BlackRock Inc. Has $558.73 Million Holdings in BIO-TECHNE Corp (TECH)

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BlackRock Inc. lifted its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,776,455 shares of the biotechnology company’s stock after purchasing an additional 91,519 shares during the period. BlackRock Inc. owned 10.05% of BIO-TECHNE worth $558,726,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Conestoga Capital Advisors LLC boosted its position in shares of BIO-TECHNE by 4.4% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 272,367 shares of the biotechnology company’s stock valued at $40,297,000 after purchasing an additional 11,595 shares in the last quarter. Robecosam AG bought a new stake in shares of BIO-TECHNE during the 2nd quarter valued at about $144,000. Robeco Institutional Asset Management B.V. boosted its position in shares of BIO-TECHNE by 22.3% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 24,856 shares of the biotechnology company’s stock valued at $3,678,000 after purchasing an additional 4,532 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of BIO-TECHNE by 11.8% during the 1st quarter. Principal Financial Group Inc. now owns 221,887 shares of the biotechnology company’s stock valued at $33,513,000 after purchasing an additional 23,354 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in shares of BIO-TECHNE during the 2nd quarter valued at about $2,552,000. Institutional investors own 94.74% of the company’s stock.

In related news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Higgins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $187.92, for a total value of $1,879,200.00. Following the transaction, the director now directly owns 13,012 shares in the company, valued at $2,445,215.04. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

TECH stock opened at $190.53 on Friday. BIO-TECHNE Corp has a fifty-two week low of $119.01 and a fifty-two week high of $194.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.97 and a current ratio of 5.01. The company has a market cap of $7.25 billion, a P/E ratio of 46.81, a PEG ratio of 3.32 and a beta of 0.88.

BIO-TECHNE (NASDAQ:TECH) last posted its quarterly 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. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%. The business had revenue of $180.25 million for the quarter, compared to the consensus estimate of $176.24 million. equities research analysts forecast that BIO-TECHNE Corp will post 3.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, August 16th. BIO-TECHNE’s dividend payout ratio (DPR) is currently 31.45%.

Several equities research analysts recently commented on TECH shares. BidaskClub upgraded BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 28th. Argus started coverage on BIO-TECHNE in a research report on Friday, June 15th. They set a “buy” rating and a $185.00 target price on the stock. Craig Hallum upped their target price on BIO-TECHNE from $160.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Citigroup upped their target price on BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Robert W. Baird upped their target price on BIO-TECHNE from $162.00 to $191.00 and gave the company a “positive” rating in a research report on Wednesday, August 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. BIO-TECHNE currently has an average rating of “Buy” and an average target price of $185.57.

About BIO-TECHNE

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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