Jackson Square Partners LLC Buys 28,769 Shares of Bio-Techne Corp (TECH)
Jackson Square Partners LLC lifted its stake in Bio-Techne Corp (NASDAQ:TECH) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 861,616 shares of the biotechnology company’s stock after buying an additional 28,769 shares during the period. Jackson Square Partners LLC owned about 2.30% of Bio-Techne worth $104,160,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bio-Techne by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 163 shares during the last quarter. Flinton Capital Management LLC grew its holdings in Bio-Techne by 84.8% during the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 896 shares during the period. Turner Investments LLC bought a new position in Bio-Techne during the third quarter worth about $242,000. Koch Industries Inc. bought a new position in Bio-Techne during the second quarter worth about $286,000. Finally, Brookstone Capital Management bought a new stake in shares of Bio-Techne during the second quarter worth approximately $295,000. Institutional investors and hedge funds own 97.03% of the company’s stock.
Shares of Bio-Techne Corp (NASDAQ:TECH) opened at $128.72 on Thursday. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35. Bio-Techne Corp has a one year low of $95.68 and a one year high of $136.39. The firm has a market cap of $4,812.77, a price-to-earnings ratio of 37.02, a P/E/G ratio of 3.21 and a beta of 0.75.
Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share 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 net margin of 12.54% and a return on equity of 14.11%. Bio-Techne’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. analysts forecast that Bio-Techne Corp will post 3.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.28 annualized dividend and a yield of 0.99%. Bio-Techne’s dividend payout ratio (DPR) is 66.32%.
A number of brokerages have recently issued reports on TECH. Leerink Swann restated a “buy” rating on shares of Bio-Techne in a report on Tuesday. BidaskClub cut Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research cut Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Deutsche Bank boosted their price objective on Bio-Techne from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Citigroup restated a “buy” rating and set a $115.00 price objective (down previously from $125.00) on shares of Bio-Techne in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $134.33.
In related news, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the transaction, the director now directly owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 5,200 shares of company stock valued at $675,190 over the last three months. Insiders own 3.40% of the company’s stock.
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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