Virginia Retirement Systems ET AL Grows Holdings in BIO-TECHNE Corp (TECH)

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Virginia Retirement Systems ET AL raised its position in BIO-TECHNE Corp (NASDAQ:TECH) by 273.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,600 shares of the biotechnology company’s stock after acquiring an additional 6,300 shares during the period. Virginia Retirement Systems ET AL’s holdings in BIO-TECHNE were worth $1,272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan lifted its stake in BIO-TECHNE by 3.1% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 11,640 shares of the biotechnology company’s stock valued at $1,758,000 after acquiring an additional 350 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of BIO-TECHNE by 2.0% during the 1st quarter. Mason Street Advisors LLC now owns 18,822 shares of the biotechnology company’s stock worth $2,843,000 after purchasing an additional 366 shares in the last quarter. Stifel Financial Corp raised its stake in shares of BIO-TECHNE by 4.8% during the 1st quarter. Stifel Financial Corp now owns 9,877 shares of the biotechnology company’s stock worth $1,491,000 after purchasing an additional 448 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in shares of BIO-TECHNE by 3.7% during the 1st quarter. Bahl & Gaynor Inc. now owns 12,783 shares of the biotechnology company’s stock worth $1,931,000 after purchasing an additional 453 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of BIO-TECHNE by 6.5% during the 1st quarter. Amalgamated Bank now owns 8,280 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.

TECH stock opened at $180.50 on Friday. The company has a current ratio of 5.06, a quick ratio of 3.97 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.71 billion, a P/E ratio of 44.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. BIO-TECHNE Corp has a 1-year low of $117.42 and a 1-year high of $183.90.

BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.05. The business had revenue of $180.25 million for the quarter, compared to analyst estimates of $176.24 million. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%. equities analysts forecast that BIO-TECHNE Corp will post 4.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, August 16th. BIO-TECHNE’s payout ratio is presently 31.45%.

In other BIO-TECHNE news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total value of $884,700.00. Following the transaction, the director now directly owns 13,212 shares of the company’s stock, valued at approximately $2,337,731.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles R. Kummeth sold 8,000 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $160.00, for a total value of $1,280,000.00. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on TECH shares. Zacks Investment Research cut BIO-TECHNE from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Deutsche Bank dropped their price objective on BIO-TECHNE from $167.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, May 3rd. Leerink Swann set a $160.00 price objective on BIO-TECHNE and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Craig Hallum upped their price objective on BIO-TECHNE from $160.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Finally, BidaskClub cut BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $185.57.

BIO-TECHNE Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.

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

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