State Board of Administration of Florida Retirement System reduced its position in BIO-TECHNE Corp (NASDAQ:TECH) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,330 shares of the biotechnology company’s stock after selling 540 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of BIO-TECHNE worth $7,446,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Wells Fargo & Company MN grew its holdings in shares of BIO-TECHNE by 3.7% during the first quarter. Wells Fargo & Company MN now owns 53,441 shares of the biotechnology company’s stock worth $8,071,000 after purchasing an additional 1,882 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of BIO-TECHNE by 12.0% during the first quarter. Rhumbline Advisers now owns 99,809 shares of the biotechnology company’s stock worth $15,075,000 after purchasing an additional 10,719 shares in the last quarter. Comerica Bank grew its holdings in shares of BIO-TECHNE by 4.8% during the first quarter. Comerica Bank now owns 34,513 shares of the biotechnology company’s stock worth $5,253,000 after purchasing an additional 1,578 shares in the last quarter. Atria Investments LLC purchased a new position in shares of BIO-TECHNE during the first quarter worth about $209,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BIO-TECHNE by 28.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the biotechnology company’s stock worth $402,000 after purchasing an additional 593 shares in the last quarter. 94.74% of the stock is owned by institutional investors.

Several research analysts have recently commented on the company. Zacks Investment Research lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Citigroup boosted their price objective on BIO-TECHNE from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Robert W. Baird boosted their price objective on BIO-TECHNE from $162.00 to $191.00 and gave the stock a “positive” rating in a report on Wednesday, August 8th. BidaskClub lowered BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 28th. Finally, Craig Hallum boosted their price objective on BIO-TECHNE from $160.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $185.57.

Shares of TECH opened at $188.25 on Friday. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 46.67, a PEG ratio of 3.02 and a beta of 0.74. The company has a quick ratio of 3.97, a current ratio of 5.06 and a debt-to-equity ratio of 0.31. BIO-TECHNE Corp has a 1 year low of $118.07 and a 1 year high of $189.33.

BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.05. The business had revenue of $180.25 million during the quarter, compared to analyst estimates of $176.24 million. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%. sell-side analysts anticipate that BIO-TECHNE Corp will post 3.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 17th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, August 16th. BIO-TECHNE’s dividend payout ratio is currently 31.45%.

In other BIO-TECHNE news, CEO Charles R. Kummeth sold 8,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total value of $884,700.00. Following the completion of the sale, the director now directly owns 13,212 shares of the company’s stock, valued at approximately $2,337,731.28. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

About BIO-TECHNE

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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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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