Oakbrook Investments LLC raised its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,725 shares of the biotechnology company’s stock after acquiring an additional 200 shares during the period. Oakbrook Investments LLC’s holdings in BIO-TECHNE were worth $985,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Commonwealth Equity Services LLC grew its holdings in BIO-TECHNE by 1.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,690 shares of the biotechnology company’s stock valued at $534,000 after purchasing an additional 58 shares during the last quarter. Advisor Group Inc. grew its holdings in BIO-TECHNE by 11.5% in the fourth quarter. Advisor Group Inc. now owns 1,825 shares of the biotechnology company’s stock valued at $265,000 after purchasing an additional 188 shares during the last quarter. United Services Automobile Association grew its holdings in BIO-TECHNE by 3.8% in the fourth quarter. United Services Automobile Association now owns 8,033 shares of the biotechnology company’s stock valued at $1,163,000 after purchasing an additional 292 shares during the last quarter. Geode Capital Management LLC grew its holdings in BIO-TECHNE by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock valued at $60,275,000 after purchasing an additional 27,587 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in BIO-TECHNE in the fourth quarter valued at $2,267,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TECH traded down $0.90 during trading hours on Tuesday, reaching $207.86. 7,421 shares of the company traded hands, compared to its average volume of 130,412. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.32 and a quick ratio of 3.36. The company has a market cap of $7.93 billion, a PE ratio of 51.11, a PEG ratio of 3.81 and a beta of 1.17. BIO-TECHNE Corp has a fifty-two week low of $132.75 and a fifty-two week high of $217.15. The company’s fifty day moving average price is $210.06.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.27. The business had revenue of $184.86 million for the quarter, compared to analyst estimates of $183.92 million. BIO-TECHNE had a return on equity of 13.53% and a net margin of 17.15%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. On average, equities analysts forecast that BIO-TECHNE Corp will post 3.88 EPS for the current fiscal year.
In related news, CFO James Hippel sold 35,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $203.08, for a total transaction of $7,107,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles R. Kummeth sold 33,031 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $212.60, for a total value of $7,022,390.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,548 shares of company stock worth $16,898,696. Corporate insiders own 3.80% of the company’s stock.
TECH has been the topic of several research reports. ValuEngine raised Vistra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Janney Montgomery Scott raised BIO-TECHNE from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $270.00 in a report on Tuesday, July 2nd. Zacks Investment Research lowered Yatra Online from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th. Finally, BidaskClub lowered Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 13th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $205.89.
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 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.
Read More: Do Tariffs Work?
Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BIO-TECHNE Corp (NASDAQ:TECH).
Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.