Prudential Financial Inc. lifted its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 10.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,729 shares of the biotechnology company’s stock after purchasing an additional 2,340 shares during the period. Prudential Financial Inc. owned 0.07% of BIO-TECHNE worth $5,156,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of BIO-TECHNE in the second quarter worth approximately $27,000. Advisory Services Network LLC raised its stake in shares of BIO-TECHNE by 183.3% in the second quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 99 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of BIO-TECHNE in the first quarter worth approximately $58,000. FinTrust Capital Advisors LLC raised its stake in shares of BIO-TECHNE by 1,694.4% in the first quarter. FinTrust Capital Advisors LLC now owns 323 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 305 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of BIO-TECHNE in the second quarter worth approximately $77,000. Institutional investors own 92.51% of the company’s stock.
In related news, CEO Charles R. Kummeth purchased 200 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $185.00 per share, with a total value of $37,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert V. Baumgartner purchased 500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $191.06 per share, with a total value of $95,530.00. Following the completion of the acquisition, the director now directly owns 8,726 shares of the company’s stock, valued at $1,667,189.56. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.
Shares of TECH traded up $0.10 on Friday, reaching $200.02. 2,350 shares of the company’s stock traded hands, compared to its average volume of 154,266. The company has a current ratio of 4.05, a quick ratio of 3.15 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.13 billion, a PE ratio of 51.87, a PEG ratio of 4.04 and a beta of 1.21. The stock’s 50 day simple moving average is $196.22 and its two-hundred day simple moving average is $200.08. BIO-TECHNE Corp has a 52-week low of $132.75 and a 52-week high of $217.15.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.08. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. The company had revenue of $191.66 million during the quarter, compared to the consensus estimate of $196.37 million. During the same period last year, the business posted $1.34 earnings per share. BIO-TECHNE’s revenue was up 6.3% on a year-over-year basis. Analysts forecast 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 given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, August 15th. BIO-TECHNE’s dividend payout ratio is currently 33.68%.
TECH has been the subject of several analyst reports. BidaskClub downgraded BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Janney Montgomery Scott raised BIO-TECHNE from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $270.00 in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded BIO-TECHNE from a “buy” rating to a “sell” rating in a research report on Tuesday, August 13th. ValuEngine downgraded BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, TheStreet downgraded BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average 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.
Featured Article: Bull Market
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.