Parametric Portfolio Associates LLC Trims Stock Position in BIO-TECHNE Corp (NASDAQ:TECH)

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Parametric Portfolio Associates LLC lowered its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,786 shares of the biotechnology company’s stock after selling 2,511 shares during the period. Parametric Portfolio Associates LLC owned 0.28% of BIO-TECHNE worth $21,847,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Jackson Square Partners LLC raised its holdings in BIO-TECHNE by 3.9% in the 1st quarter. Jackson Square Partners LLC now owns 882,634 shares of the biotechnology company’s stock worth $175,246,000 after purchasing an additional 33,357 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in BIO-TECHNE by 229.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 47,344 shares of the biotechnology company’s stock valued at $9,871,000 after purchasing an additional 32,989 shares during the last quarter. OppenheimerFunds Inc. grew its position in BIO-TECHNE by 11.7% during the 1st quarter. OppenheimerFunds Inc. now owns 303,645 shares of the biotechnology company’s stock valued at $60,289,000 after purchasing an additional 31,763 shares during the last quarter. Geode Capital Management LLC grew its position in BIO-TECHNE by 7.1% during the 4th 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, DekaBank Deutsche Girozentrale grew its position in BIO-TECHNE by 118.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 30,170 shares of the biotechnology company’s stock valued at $6,227,000 after purchasing an additional 16,360 shares during the last quarter. 91.65% of the stock is owned by institutional investors.

Shares of NASDAQ:TECH traded down $1.05 during trading on Thursday, hitting $197.36. The company’s stock had a trading volume of 10,141 shares, compared to its average volume of 168,910. The company has a 50-day moving average of $194.68 and a 200-day moving average of $200.23. BIO-TECHNE Corp has a 12 month low of $132.75 and a 12 month high of $217.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.05 and a quick ratio of 3.15. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 51.89, a P/E/G ratio of 4.30 and a beta of 1.21.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.08. BIO-TECHNE had a net margin of 13.45% and a return on equity of 13.20%. The firm had revenue of $191.66 million for the quarter, compared to analysts’ expectations of $196.37 million. During the same quarter in the prior year, the business earned $1.34 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, research analysts anticipate that BIO-TECHNE Corp will post 4.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Thursday, August 15th. BIO-TECHNE’s payout ratio is 33.68%.

In related news, Director Robert V. Baumgartner acquired 500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $191.06 per share, with a total value of $95,530.00. Following the acquisition, the director now directly owns 8,726 shares in the company, valued at approximately $1,667,189.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles R. Kummeth acquired 200 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $185.00 per share, with a total value of $37,000.00. The disclosure for this purchase can be found here. 4.20% of the stock is currently owned by company insiders.

Several analysts recently commented on TECH shares. BidaskClub raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Janney Montgomery Scott upgraded shares of 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 research note on Tuesday, July 2nd. TheStreet cut shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. BIO-TECHNE presently has a consensus rating of “Hold” and a consensus price target of $211.17.

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: What is an investor looking for in an SEC filing?

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

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