Northwestern Mutual Investment Management Company LLC cut its position in Bio-Techne Corp (NASDAQ:TECH) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,416 shares of the biotechnology company’s stock after selling 14 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Bio-Techne Corp were worth $724,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TECH. Israel Discount Bank of New York acquired a new stake in shares of Bio-Techne Corp in the 1st quarter valued at about $105,000. Flinton Capital Management LLC grew its stake in shares of Bio-Techne Corp by 10.0% in the 1st quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 96 shares during the period. Meadow Creek Investment Management LLC grew its stake in shares of Bio-Techne Corp by 10.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock valued at $148,000 after buying an additional 132 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Bio-Techne Corp by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 163 shares during the period. Finally, LS Investment Advisors LLC grew its stake in shares of Bio-Techne Corp by 49.9% in the 1st quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 570 shares during the period. Institutional investors own 98.77% of the company’s stock.
Bio-Techne Corp (NASDAQ:TECH) opened at 119.91 on Friday. The firm’s 50-day moving average price is $118.29 and its 200-day moving average price is $111.35. The firm has a market cap of $4.48 billion, a P/E ratio of 58.21 and a beta of 0.78. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $124.00.
Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. The business had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Equities research analysts anticipate that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 16th. Bio-Techne Corp’s payout ratio is 65.98%.
A number of research firms have issued reports on TECH. BidaskClub downgraded Bio-Techne Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research note on Thursday, July 6th. Wells Fargo & Company began coverage on Bio-Techne Corp in a research note on Thursday, July 13th. They set a “market perform” rating for the company. Finally, Deutsche Bank AG lifted their price target on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $127.50.
In other news, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the sale, the director now owns 914 shares in the company, valued at $111,261.22. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 1,259 shares of company stock worth $152,028. Corporate insiders own 2.70% of the company’s stock.
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Bio-Techne Corp Company Profile
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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