Alliancebernstein L.P. increased its holdings in Bio-Techne Corp (NASDAQ:TECH) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,784 shares of the biotechnology company’s stock after acquiring an additional 390 shares during the period. Alliancebernstein L.P. owned about 0.07% of Bio-Techne Corp worth $3,030,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of TECH. BlackRock Inc. raised its holdings in shares of Bio-Techne Corp by 14,548.6% in the 1st quarter. BlackRock Inc. now owns 3,500,436 shares of the biotechnology company’s stock worth $355,820,000 after acquiring an additional 3,476,540 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Bio-Techne Corp by 174.8% in the 2nd quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock worth $85,962,000 after acquiring an additional 465,398 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Bio-Techne Corp by 222.0% in the 2nd quarter. Schroder Investment Management Group now owns 342,815 shares of the biotechnology company’s stock worth $40,220,000 after acquiring an additional 236,362 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Bio-Techne Corp in the 2nd quarter worth about $24,094,000. Finally, Commonwealth Bank of Australia raised its holdings in shares of Bio-Techne Corp by 1,358.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 179,878 shares of the biotechnology company’s stock worth $21,135,000 after acquiring an additional 167,541 shares during the last quarter. Institutional investors own 98.40% of the company’s stock.
In other news, Director Karen A. Holbrook sold 1,059 shares of the business’s 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 completion of the transaction, the director now directly owns 914 shares of the company’s stock, valued at $111,261.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,259 shares of company stock valued at $152,436 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
Shares of Bio-Techne Corp (NASDAQ TECH) opened at 122.30 on Wednesday. The firm has a 50-day moving average of $121.47 and a 200-day moving average of $113.95. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $124.00. The company has a market capitalization of $4.57 billion, a P/E ratio of 60.25 and a beta of 0.76.
Bio-Techne Corp (NASDAQ:TECH) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.10. The business had revenue of $156.60 million during 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 14.19%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. On average, equities analysts predict that Bio-Techne Corp will post $3.99 earnings per share for the current year.
A number of equities research analysts have issued reports on TECH shares. Zacks Investment Research downgraded shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Wells Fargo & Company started coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating for the company. Finally, Deutsche Bank AG set a $132.00 price objective on shares of Bio-Techne Corp and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Bio-Techne Corp has an average rating of “Buy” and an average price target of $127.50.
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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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