Morgan Stanley grew its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 92.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,169 shares of the biotechnology company’s stock after acquiring an additional 51,351 shares during the period. Morgan Stanley owned 0.28% of BIO-TECHNE worth $20,321,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eaton Vance Management boosted its position in BIO-TECHNE by 0.7% during the first quarter. Eaton Vance Management now owns 21,124 shares of the biotechnology company’s stock valued at $4,006,000 after purchasing an additional 139 shares during the last quarter. Credit Suisse AG raised its stake in shares of BIO-TECHNE by 58.0% during the 4th quarter. Credit Suisse AG now owns 40,402 shares of the biotechnology company’s stock worth $8,869,000 after purchasing an additional 14,839 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of BIO-TECHNE by 0.7% during the 1st quarter. Legal & General Group Plc now owns 89,093 shares of the biotechnology company’s stock valued at $16,894,000 after buying an additional 661 shares during the last quarter. Norges Bank bought a new stake in shares of BIO-TECHNE in the 4th quarter valued at approximately $95,918,000. Finally, Guggenheim Capital LLC increased its holdings in BIO-TECHNE by 28.0% in the fourth quarter. Guggenheim Capital LLC now owns 25,123 shares of the biotechnology company’s stock worth $5,515,000 after buying an additional 5,494 shares during the last quarter. 95.68% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Harold J. Wiens sold 4,000 shares of BIO-TECHNE stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $225.00, for a total transaction of $900,000.00. Following the sale, the director now owns 9,221 shares of the company’s stock, valued at approximately $2,074,725. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $266.42, for a total value of $1,332,100.00. Following the sale, the director now owns 14,221 shares in the company, valued at $3,788,758.82. The disclosure for this sale can be found here. Insiders sold a total of 33,465 shares of company stock worth $8,677,162 over the last 90 days. Company insiders own 4.20% of the company’s stock.
TECH opened at $253.81 on Wednesday. The company has a quick ratio of 3.74, a current ratio of 4.69 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $259.56 and its two-hundred day moving average price is $219.54. The firm has a market capitalization of $9.80 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 12.01 and a beta of 1.15. BIO-TECHNE Corp has a 12-month low of $155.17 and a 12-month high of $282.52.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Thursday, April 30th. The biotechnology company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.24. The business had revenue of $194.70 million for the quarter, compared to the consensus estimate of $182.32 million. BIO-TECHNE had a net margin of 24.77% and a return on equity of 13.04%. BIO-TECHNE’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $1.21 earnings per share. As a group, analysts anticipate that BIO-TECHNE Corp will post 3.56 earnings per share for the current year.
TECH has been the subject of several recent research reports. Stifel Nicolaus downgraded shares of BIO-TECHNE from a “buy” rating to a “hold” rating and boosted their target price for the stock from $245.00 to $260.00 in a research report on Wednesday, May 27th. Benchmark initiated coverage on BIO-TECHNE in a report on Thursday, May 14th. They set a “buy” rating and a $290.00 target price on the stock. BidaskClub upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Wednesday, June 24th. Wells Fargo & Co increased their price objective on BIO-TECHNE from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Craig Hallum reduced their target price on BIO-TECHNE from $218.00 to $211.00 and set a “buy” rating for the company in a report on Monday, April 20th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $247.70.
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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