Castleark Management LLC bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,820 shares of the biotechnology company’s stock, valued at approximately $3,504,000. Castleark Management LLC owned approximately 0.08% of Bio-Techne Corp as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Bio-Techne Corp by 1.7% in the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after buying an additional 61,138 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bio-Techne Corp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after buying an additional 36,768 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its stake in Bio-Techne Corp by 0.7% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after buying an additional 14,291 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Bio-Techne Corp by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after buying an additional 914,554 shares in the last quarter. Finally, State Street Corp lifted its stake in Bio-Techne Corp by 0.5% in the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after buying an additional 5,078 shares in the last quarter. 98.40% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bio-Techne Corp (NASDAQ:TECH) traded down 1.84% on Friday, reaching $121.65. The company’s stock had a trading volume of 123,201 shares. The stock has a 50-day moving average of $121.82 and a 200 day moving average of $114.34. The stock has a market capitalization of $4.55 billion, a PE ratio of 59.93 and a beta of 0.76. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $124.94.

Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was up 16.2% on a year-over-year basis. On average, equities analysts forecast that Bio-Techne Corp will post $3.99 EPS for the current year.

TECH has been the topic of a number of recent research reports. Deutsche Bank AG upped their target price on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Thursday, July 6th. BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Wells Fargo & Company assumed coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $128.75.

In related news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total value of $128,912.07. Following the completion of the transaction, the director now owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,359 shares of company stock valued at $164,632 in the last ninety days. Company insiders own 3.40% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Castleark Management LLC Invests $3.50 Million in Bio-Techne Corp (TECH) Stock” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.watchlistnews.com/castleark-management-llc-invests-3-50-million-in-bio-techne-corp-tech-stock/1632673.html.

Bio-Techne Corp Profile

Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.

Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Techne Corp (NASDAQ:TECH).

Institutional Ownership by Quarter for Bio-Techne Corp (NASDAQ:TECH)

Receive News & Ratings for Bio-Techne Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.