Bessemer Group Inc. boosted its stake in BIO-TECHNE Corp (NASDAQ:TECH) by 1,207.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 549 shares of the biotechnology company’s stock after purchasing an additional 507 shares during the quarter. Bessemer Group Inc.’s holdings in BIO-TECHNE were worth $114,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of BIO-TECHNE by 3.0% in the first quarter. Swiss National Bank now owns 68,811 shares of the biotechnology company’s stock valued at $13,662,000 after purchasing an additional 2,000 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of BIO-TECHNE by 19.4% in the first quarter. Rehmann Capital Advisory Group now owns 609 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 99 shares during the period. California State Teachers Retirement System raised its holdings in BIO-TECHNE by 0.4% in the first quarter. California State Teachers Retirement System now owns 58,833 shares of the biotechnology company’s stock valued at $11,681,000 after acquiring an additional 258 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in BIO-TECHNE in the second quarter valued at $225,000. Finally, Quadrant Capital Group LLC raised its holdings in BIO-TECHNE by 502.1% in the first quarter. Quadrant Capital Group LLC now owns 283 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.
Several analysts recently issued reports on the stock. BidaskClub cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a report on Tuesday. Janney Montgomery Scott raised shares of BIO-TECHNE from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $270.00 in a report on Tuesday, July 2nd. TheStreet cut shares of BIO-TECHNE from a “b” rating to a “c+” rating in a report on Tuesday, August 6th. Finally, ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $211.17.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.17 by $0.08. The business had revenue of $191.66 million during the quarter, compared to analyst estimates of $196.37 million. BIO-TECHNE had a net margin of 13.45% and a return on equity of 13.20%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Sell-side analysts expect that BIO-TECHNE Corp will post 4.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.66%. BIO-TECHNE’s dividend payout ratio is currently 33.68%.
In related news, SVP Brenda S. Furlow sold 5,400 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $200.00, for a total value of $1,080,000.00. Following the completion of the transaction, the senior vice president now owns 7,589 shares in the company, valued at approximately $1,517,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert V. Baumgartner bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $191.06 per share, with a total value of $95,530.00. Following the transaction, the director now directly owns 8,726 shares in the company, valued at $1,667,189.56. The disclosure for this purchase can be found here. Insiders have sold 46,548 shares of company stock valued at $9,790,896 in the last 90 days. Insiders own 3.80% of the company’s stock.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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