Louisiana State Employees Retirement System lifted its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,100 shares of the biotechnology company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in BIO-TECHNE were worth $2,005,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in BIO-TECHNE by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 510,911 shares of the biotechnology company’s stock valued at $104,283,000 after purchasing an additional 5,467 shares during the period. FMR LLC acquired a new position in BIO-TECHNE during the third quarter valued at $225,000. Hsbc Holdings PLC acquired a new position in BIO-TECHNE during the third quarter valued at $481,000. JPMorgan Chase & Co. lifted its position in BIO-TECHNE by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 76,856 shares of the biotechnology company’s stock valued at $15,686,000 after purchasing an additional 8,480 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in BIO-TECHNE during the third quarter valued at $327,000. Institutional investors and hedge funds own 94.08% of the company’s stock.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 10th. Argus reaffirmed a “buy” rating on shares of BIO-TECHNE in a report on Monday, March 4th. ValuEngine raised shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Craig Hallum reaffirmed a “hold” rating and issued a $179.00 price objective (up previously from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. Finally, Stephens raised shares of BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a report on Monday, January 14th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. BIO-TECHNE presently has an average rating of “Buy” and a consensus target price of $188.13.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $174.50 million during the quarter, compared to analysts’ expectations of $171.39 million. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. As a group, equities analysts anticipate that BIO-TECHNE Corp will post 3.68 EPS for the current year.
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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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