Pendal Group Ltd Has $970,000 Holdings in BIO-TECHNE Corp (NASDAQ:TECH)

Pendal Group Ltd cut its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,651 shares of the biotechnology company’s stock after selling 353 shares during the quarter. Pendal Group Ltd’s holdings in BIO-TECHNE were worth $970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversified Trust Co increased its position in shares of BIO-TECHNE by 3.6% during the second quarter. Diversified Trust Co now owns 1,733 shares of the biotechnology company’s stock worth $361,000 after buying an additional 60 shares during the period. Creative Planning boosted its stake in BIO-TECHNE by 4.1% during the first quarter. Creative Planning now owns 1,785 shares of the biotechnology company’s stock worth $354,000 after acquiring an additional 71 shares in the last quarter. ETF Managers Group LLC boosted its stake in BIO-TECHNE by 9.3% during the first quarter. ETF Managers Group LLC now owns 950 shares of the biotechnology company’s stock worth $189,000 after acquiring an additional 81 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in BIO-TECHNE by 6.3% during the second quarter. Zions Bancorporation N.A. now owns 1,587 shares of the biotechnology company’s stock worth $331,000 after acquiring an additional 94 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in BIO-TECHNE by 19.4% during the first quarter. Rehmann Capital Advisory Group now owns 609 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 92.09% of the company’s stock.

Shares of BIO-TECHNE stock traded up $4.21 during trading hours on Friday, reaching $197.06. The company’s stock had a trading volume of 1,955 shares, compared to its average volume of 170,220. BIO-TECHNE Corp has a one year low of $132.75 and a one year high of $217.15. The company has a market capitalization of $7.47 billion, a P/E ratio of 51.81, a P/E/G ratio of 4.23 and a beta of 1.17. The stock’s fifty day simple moving average is $207.21 and its two-hundred day simple moving average is $199.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.15 and a current ratio of 4.05.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.08. BIO-TECHNE had a net margin of 13.45% and a return on equity of 13.20%. The firm had revenue of $191.66 million for the quarter, compared to analyst estimates of $196.37 million. During the same period last year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that BIO-TECHNE Corp will post 4.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 15th. BIO-TECHNE’s dividend payout ratio (DPR) is 33.68%.

In other BIO-TECHNE news, SVP Brenda S. Furlow sold 5,400 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 7,589 shares of the company’s stock, valued at $1,517,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles R. Kummeth sold 33,031 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $212.60, for a total transaction of $7,022,390.60. The disclosure for this sale can be found here. Insiders sold 46,548 shares of company stock worth $9,790,896 over the last ninety days. Insiders own 3.80% of the company’s stock.

Several research analysts recently issued reports on TECH shares. ValuEngine lowered shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub lowered shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Saturday, July 13th. TheStreet lowered shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Zacks Investment Research lowered shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a research note on Tuesday. Finally, 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 research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $211.17.

About BIO-TECHNE

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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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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