Citadel Advisors LLC Sells 12,598 Shares of BIO-TECHNE Corp (TECH)
Citadel Advisors LLC decreased its position in BIO-TECHNE Corp (NASDAQ:TECH) by 24.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,243 shares of the biotechnology company’s stock after selling 12,598 shares during the quarter. Citadel Advisors LLC owned 0.10% of BIO-TECHNE worth $8,010,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. grew its position in BIO-TECHNE by 2.5% in the second quarter. BlackRock Inc. now owns 3,776,455 shares of the biotechnology company’s stock valued at $558,726,000 after acquiring an additional 91,519 shares in the last quarter. Schroder Investment Management Group grew its position in BIO-TECHNE by 975.1% in the second quarter. Schroder Investment Management Group now owns 2,211,502 shares of the biotechnology company’s stock valued at $85,499,000 after acquiring an additional 2,005,804 shares in the last quarter. Janus Henderson Group PLC grew its position in BIO-TECHNE by 5.8% in the second quarter. Janus Henderson Group PLC now owns 1,393,027 shares of the biotechnology company’s stock valued at $206,098,000 after acquiring an additional 76,538 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in BIO-TECHNE by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 677,968 shares of the biotechnology company’s stock valued at $138,381,000 after acquiring an additional 79,963 shares in the last quarter. Finally, First Trust Advisors LP grew its position in BIO-TECHNE by 41.1% in the third quarter. First Trust Advisors LP now owns 672,964 shares of the biotechnology company’s stock valued at $137,359,000 after acquiring an additional 195,950 shares in the last quarter. 93.90% of the stock is owned by institutional investors.
Several brokerages have issued reports on TECH. Zacks Investment Research raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Wednesday. Goldman Sachs Group set a $165.00 price objective on shares of BIO-TECHNE and gave the company a “hold” rating in a research report on Friday, November 30th. Craig Hallum downgraded shares of BIO-TECHNE from a “buy” rating to a “hold” rating and lowered their price objective for the company from $215.00 to $154.00 in a research report on Wednesday, October 31st. BidaskClub raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Tuesday, October 30th. Finally, Argus increased their target price on BIO-TECHNE from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $181.00.
BIO-TECHNE (NASDAQ:TECH) last released its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.03. The company had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $162.34 million. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. As a group, analysts forecast that BIO-TECHNE Corp will post 3.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Thursday, November 8th. BIO-TECHNE’s dividend payout ratio (DPR) is currently 31.45%.
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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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