First Light Asset Management LLC Boosts Position in BIO-TECHNE Corp (TECH)
First Light Asset Management LLC lifted its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,655 shares of the biotechnology company’s stock after acquiring an additional 584 shares during the period. BIO-TECHNE comprises approximately 1.3% of First Light Asset Management LLC’s holdings, making the stock its 22nd largest holding. First Light Asset Management LLC’s holdings in BIO-TECHNE were worth $5,839,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in shares of BIO-TECHNE during the 4th quarter valued at approximately $118,000. We Are One Seven LLC increased its position in BIO-TECHNE by 241.0% in the first quarter. We Are One Seven LLC now owns 924 shares of the biotechnology company’s stock worth $140,000 after buying an additional 653 shares during the period. Institutional & Family Asset Management LLC acquired a new stake in BIO-TECHNE in the first quarter worth $162,000. Advisory Services Network LLC increased its position in BIO-TECHNE by 1,423.3% in the fourth quarter. Advisory Services Network LLC now owns 1,112 shares of the biotechnology company’s stock worth $144,000 after buying an additional 1,039 shares during the period. Finally, Advisor Group Inc. increased its position in BIO-TECHNE by 64.5% in the fourth quarter. Advisor Group Inc. now owns 1,288 shares of the biotechnology company’s stock worth $167,000 after buying an additional 505 shares during the period. 94.60% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Charles R. Kummeth sold 8,000 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $160.00, for a total value of $1,280,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.
Shares of BIO-TECHNE opened at $162.99 on Thursday, according to Marketbeat.com. BIO-TECHNE Corp has a 1-year low of $109.12 and a 1-year high of $163.81. The company has a current ratio of 5.55, a quick ratio of 4.30 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 47.66, a P/E/G ratio of 2.65 and a beta of 0.71.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 2nd. The biotechnology company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.07. BIO-TECHNE had a return on equity of 14.75% and a net margin of 18.29%. The company had revenue of $164.00 million during the quarter, compared to analysts’ expectations of $163.43 million. During the same quarter in the prior year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts anticipate that BIO-TECHNE Corp will post 4.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Monday, May 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.79%. BIO-TECHNE’s payout ratio is 37.43%.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.
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