Confluence Investment Management LLC raised its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,875 shares of the biotechnology company’s stock after purchasing an additional 727 shares during the period. Confluence Investment Management LLC owned approximately 0.09% of BIO-TECHNE worth $4,130,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of BIO-TECHNE by 1.7% in the second quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock worth $418,485,000 after buying an additional 61,138 shares during the period. Vanguard Group Inc. grew its stake in shares of BIO-TECHNE by 1.2% in the second quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock worth $357,489,000 after purchasing an additional 36,768 shares during the last quarter. Atlanta Capital Management Co. L L C grew its stake in shares of BIO-TECHNE by 0.7% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock worth $230,405,000 after purchasing an additional 14,291 shares during the last quarter. Bamco Inc. NY grew its stake in shares of BIO-TECHNE by 1.4% in the third quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock worth $183,780,000 after purchasing an additional 20,286 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of BIO-TECHNE by 334.3% in the second quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock worth $139,603,000 after purchasing an additional 914,554 shares during the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.
TECH has been the topic of several research reports. BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research cut BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Leerink Swann reissued a “buy” rating on shares of BIO-TECHNE in a research report on Tuesday, December 5th. Deutsche Bank set a $145.00 price target on BIO-TECHNE and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Citigroup reissued a “buy” rating and issued a $115.00 price target (down from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $135.00.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The firm had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. BIO-TECHNE had a return on equity of 14.11% and a net margin of 12.54%. BIO-TECHNE’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. equities research analysts predict that BIO-TECHNE Corp will post 3.76 earnings per share for the current year.
In other news, Director Robert V. Baumgartner sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the sale, the director now directly owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.
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BIO-TECHNE Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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