DF Dent & Co. Inc. Sells 581 Shares of Bio-Techne Corp (TECH)
DF Dent & Co. Inc. trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 395,727 shares of the biotechnology company’s stock after selling 581 shares during the quarter. DF Dent & Co. Inc. owned 1.06% of Bio-Techne worth $47,839,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Eaton Vance Management grew its position in Bio-Techne by 0.4% in the second quarter. Eaton Vance Management now owns 2,566 shares of the biotechnology company’s stock valued at $302,000 after acquiring an additional 9 shares during the period. Roberts Glore & Co. Inc. IL grew its position in Bio-Techne by 0.3% in the second quarter. Roberts Glore & Co. Inc. IL now owns 8,332 shares of the biotechnology company’s stock valued at $979,000 after acquiring an additional 25 shares during the period. 1st Global Advisors Inc. grew its position in Bio-Techne by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 5,542 shares of the biotechnology company’s stock valued at $651,000 after acquiring an additional 37 shares during the period. State of Wisconsin Investment Board grew its position in Bio-Techne by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 7,392 shares of the biotechnology company’s stock valued at $869,000 after acquiring an additional 50 shares during the period. Finally, World Asset Management Inc grew its position in Bio-Techne by 4.1% in the second quarter. World Asset Management Inc now owns 2,708 shares of the biotechnology company’s stock valued at $318,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.
Shares of Bio-Techne Corp (NASDAQ TECH) opened at $127.00 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.25 and a current ratio of 2.87. The company has a market capitalization of $4,823.63, a price-to-earnings ratio of 37.11, a PEG ratio of 3.21 and a beta of 0.75. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $136.39.
Bio-Techne (NASDAQ:TECH) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The company had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. Bio-Techne had a return on equity of 14.11% and a net margin of 12.54%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. research analysts expect that Bio-Techne Corp will post 3.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, November 9th. Bio-Techne’s payout ratio is presently 66.32%.
In other news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the sale, the director now owns 12,712 shares in the company, valued at $1,654,848.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.40% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on TECH. BidaskClub cut Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Zacks Investment Research upgraded Bio-Techne from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Saturday, November 4th. Deutsche Bank set a $132.00 price target on Bio-Techne and gave the company a “buy” rating in a research report on Wednesday, August 30th. Leerink Swann reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, December 5th. Finally, Citigroup reiterated a “buy” rating and issued a $115.00 price target (down from $125.00) on shares of Bio-Techne in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $134.33.
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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.
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