Stephens Investment Management Group LLC Trims Position in BIO-TECHNE Corp (NASDAQ:TECH)

Stephens Investment Management Group LLC lessened its stake in BIO-TECHNE Corp (NASDAQ:TECH) by 3.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 91,594 shares of the biotechnology company’s stock after selling 3,381 shares during the quarter. Stephens Investment Management Group LLC’s holdings in BIO-TECHNE were worth $19,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TECH. Ellis Investment Partners LLC purchased a new position in BIO-TECHNE in the 1st quarter worth about $119,000. Bradley Foster & Sargent Inc. CT increased its stake in BIO-TECHNE by 725.3% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 42,629 shares of the biotechnology company’s stock worth $8,464,000 after buying an additional 37,464 shares during the period. Jackson Square Partners LLC increased its stake in BIO-TECHNE by 3.9% in the 1st quarter. Jackson Square Partners LLC now owns 882,634 shares of the biotechnology company’s stock worth $175,246,000 after buying an additional 33,357 shares during the period. BNP Paribas Arbitrage SA increased its stake in BIO-TECHNE by 229.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 47,344 shares of the biotechnology company’s stock worth $9,871,000 after buying an additional 32,989 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in BIO-TECHNE by 11.7% in the 1st quarter. OppenheimerFunds Inc. now owns 303,645 shares of the biotechnology company’s stock worth $60,289,000 after buying an additional 31,763 shares during the period. 92.09% of the stock is currently owned by institutional investors.

In other news, Director Robert V. Baumgartner purchased 500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $191.06 per share, for a total transaction of $95,530.00. Following the acquisition, the director now owns 8,726 shares of the company’s stock, valued at $1,667,189.56. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles R. Kummeth sold 33,031 shares of the firm’s stock in a transaction dated 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 a total of 46,548 shares of company stock worth $9,790,896 over the last 90 days. Company insiders own 3.80% of the company’s stock.

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

Shares of NASDAQ:TECH traded up $5.25 during trading on Friday, reaching $198.10. The stock had a trading volume of 2,737 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 52.06, a PEG ratio of 4.23 and a beta of 1.17. The company has a current ratio of 4.05, a quick ratio of 3.15 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $207.21 and its 200 day simple moving average is $199.70.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results 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 business had revenue of $191.66 million for the quarter, compared to analysts’ expectations of $196.37 million. During the same period last year, the business earned $1.34 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts forecast that BIO-TECHNE Corp will post 4.24 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued 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 is currently 33.68%.

BIO-TECHNE Profile

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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