Quantum Capital Management lessened its position in Bio-Techne Corp (NASDAQ:TECH) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,094 shares of the biotechnology company’s stock after selling 4,114 shares during the quarter. Bio-Techne Corp comprises 1.6% of Quantum Capital Management’s holdings, making the stock its 26th largest position. Quantum Capital Management owned 0.15% of Bio-Techne Corp worth $6,902,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Bio-Techne Corp by 1.7% in the second quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after acquiring an additional 61,138 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bio-Techne Corp by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after acquiring an additional 36,768 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its position in shares of Bio-Techne Corp by 0.7% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after acquiring an additional 14,291 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Bio-Techne Corp by 334.3% in the second quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after acquiring an additional 914,554 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Bio-Techne Corp by 0.5% in the second quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after purchasing an additional 5,078 shares during the last quarter. Institutional investors and hedge funds own 98.08% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a report on Saturday, November 4th. Deutsche Bank AG set a $145.00 price target on Bio-Techne Corp and gave the company a “buy” rating in a report on Tuesday, October 31st. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 price target (down previously from $125.00) on shares of Bio-Techne Corp in a report on Tuesday, October 24th. Finally, BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bio-Techne Corp presently has a consensus rating of “Buy” and a consensus target price of $134.33.
Bio-Techne Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.08. The company had revenue of $144.61 million during the quarter, compared to analysts’ expectations of $142.37 million. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. sell-side analysts forecast that Bio-Techne Corp will post 3.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.28 annualized dividend and a yield of 1.02%. Bio-Techne Corp’s dividend payout ratio (DPR) is 66.32%.
In other news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the completion of the transaction, the director now directly owns 914 shares in the company, valued at $111,261.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the transaction, the director now owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,259 shares of company stock valued at $804,102. 3.40% of the stock is owned by insiders.
Bio-Techne Corp 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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