Bio-Techne Corp (TECH) Holdings Trimmed by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Bio-Techne Corp (NASDAQ:TECH) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,617 shares of the biotechnology company’s stock after selling 11,316 shares during the quarter. Rhumbline Advisers owned about 0.24% of Bio-Techne Corp worth $10,955,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TECH. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 worth $171,000 after acquiring an additional 163 shares during the last quarter. Underhill Investment Management LLC acquired a new position in shares of Bio-Techne Corp in the 2nd quarter worth approximately $223,000. Flinton Capital Management LLC lifted its holdings in shares of Bio-Techne Corp by 84.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 896 shares during the last quarter. LS Investment Advisors LLC increased its stake in Bio-Techne Corp by 22.0% during the 2nd quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock worth $245,000 after buying an additional 377 shares during the period. Finally, Huntington National Bank increased its stake in Bio-Techne Corp by 6.0% during the 2nd quarter. Huntington National Bank now owns 2,138 shares of the biotechnology company’s stock worth $251,000 after buying an additional 121 shares during the period. Institutional investors own 97.18% of the company’s stock.

Shares of Bio-Techne Corp (NASDAQ TECH) opened at $131.71 on Friday. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $132.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. The company has a market cap of $4,961.12, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 3.30 and a beta of 0.74.

Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. Bio-Techne Corp had a net margin of 12.54% and a return on equity of 14.11%. The company had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. During the same period in the prior year, the firm posted $0.84 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. equities research analysts anticipate that Bio-Techne Corp will post 3.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, November 9th. Bio-Techne Corp’s dividend payout ratio is presently 66.32%.

Several brokerages recently weighed in on TECH. Deutsche Bank AG set a $132.00 target price on shares of Bio-Techne Corp and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Zacks Investment Research downgraded shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub raised shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 target price (down from $125.00) on shares of Bio-Techne Corp in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Bio-Techne Corp has a consensus rating of “Buy” and an average target price of $134.33.

In related news, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total value of $128,912.07. Following the transaction, the director now directly owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the transaction, the director now directly owns 12,712 shares in the company, valued at $1,654,848.16. The disclosure for this sale can be found here. Insiders sold a total of 6,259 shares of company stock worth $804,102 over the last ninety days. Insiders own 3.40% of the company’s stock.

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

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