Stifel Financial Corp lifted its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 11.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,315 shares of the biotechnology company’s stock after purchasing an additional 969 shares during the quarter. Stifel Financial Corp’s holdings in BIO-TECHNE were worth $1,825,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in BIO-TECHNE by 12.7% in the 3rd quarter. Voya Investment Management LLC now owns 15,368 shares of the biotechnology company’s stock valued at $3,007,000 after acquiring an additional 1,729 shares during the last quarter. First Allied Advisory Services Inc. acquired a new stake in BIO-TECHNE in the 3rd quarter valued at about $210,000. Northwestern Mutual Investment Management Company LLC grew its stake in BIO-TECHNE by 0.5% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,853 shares of the biotechnology company’s stock valued at $2,124,000 after acquiring an additional 52 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in BIO-TECHNE by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 951,301 shares of the biotechnology company’s stock valued at $186,141,000 after acquiring an additional 31,700 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in BIO-TECHNE by 1.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 48,486 shares of the biotechnology company’s stock valued at $9,487,000 after acquiring an additional 871 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.
In other BIO-TECHNE news, CEO Charles R. Kummeth sold 11,772 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $222.12, for a total transaction of $2,614,796.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roeland Nusse sold 8,347 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $219.33, for a total transaction of $1,830,747.51. Following the sale, the director now directly owns 15,721 shares in the company, valued at $3,448,086.93. The disclosure for this sale can be found here. Insiders have sold a total of 34,271 shares of company stock worth $7,503,700 over the last ninety days. 4.20% of the stock is owned by corporate insiders.
A number of equities research analysts recently commented on the stock. TheStreet raised shares of BIO-TECHNE from a “c+” rating to a “b-” rating in a research note on Wednesday, November 27th. Leerink Swann reissued an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of BIO-TECHNE in a research note on Thursday, September 26th. Stifel Nicolaus assumed coverage on shares of BIO-TECHNE in a research note on Thursday, November 14th. They issued a “buy” rating and a $235.00 price objective on the stock. ValuEngine cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, BidaskClub raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. BIO-TECHNE has a consensus rating of “Hold” and a consensus price target of $224.50.
BIO-TECHNE stock opened at $218.31 on Friday. BIO-TECHNE Corp has a 12-month low of $132.75 and a 12-month high of $222.87. The stock has a market capitalization of $8.36 billion, a P/E ratio of 57.45, a P/E/G ratio of 4.69 and a beta of 1.23. The firm’s 50-day moving average is $212.12 and its two-hundred day moving average is $204.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.44 and a quick ratio of 3.41.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.14. BIO-TECHNE had a net margin of 12.68% and a return on equity of 13.36%. The company had revenue of $183.24 million for the quarter, compared to analysts’ expectations of $179.38 million. During the same period last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, analysts forecast that BIO-TECHNE Corp will post 4.25 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.28 annualized dividend and a dividend yield of 0.59%. BIO-TECHNE’s dividend payout ratio is currently 33.68%.
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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