Bio-Techne Corp (TECH) Stake Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in Bio-Techne Corp (NASDAQ:TECH) by 18.1% during the first quarter, Holdings Channel reports. The firm owned 12,984 shares of the biotechnology company’s stock after selling 2,878 shares during the period. Nuveen Asset Management LLC’s holdings in Bio-Techne Corp were worth $1,320,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TECH. Israel Discount Bank of New York acquired a new position in shares of Bio-Techne Corp during the first quarter worth $105,000. Flinton Capital Management LLC increased its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,848 shares of the biotechnology company’s stock worth $188,000 after buying an additional 168 shares in the last quarter. 96.91% of the stock is currently owned by institutional investors.

Bio-Techne Corp (NASDAQ TECH) opened at 116.95 on Thursday. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $119.98. The stock has a market cap of $4.37 billion, a P/E ratio of 62.91 and a beta of 0.79. The firm has a 50-day moving average price of $115.05 and a 200-day moving average price of $107.20.

Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.04. The company had revenue of $144.04 million during the quarter, compared to analysts’ expectations of $142.83 million. Bio-Techne Corp had a return on equity of 13.80% and a net margin of 12.86%. Bio-Techne Corp’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, equities research analysts predict that Bio-Techne Corp will post $3.62 EPS for the current year.

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A number of brokerages have recently weighed in on TECH. Zacks Investment Research downgraded Bio-Techne Corp from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. BidaskClub upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Citigroup Inc. reiterated a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Finally, Janney Montgomery Scott downgraded Bio-Techne Corp from a “buy” rating to a “neutral” rating in a report on Monday, March 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $123.20.

In other news, Director Charles A. Dinarello sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total value of $556,850.00. Following the completion of the transaction, the director now owns 12,473 shares in the company, valued at approximately $1,389,118.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 10,300 shares of company stock valued at $1,146,707 in the last 90 days. 2.70% of the stock is owned by corporate insiders.

About Bio-Techne Corp

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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Institutional Ownership by Quarter for Bio-Techne Corp (NASDAQ:TECH)

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