Aperio Group LLC Raises Position in Techne Corp. (TECH)
Aperio Group LLC increased its position in Techne Corp. (NASDAQ:TECH) by 228.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 46,582 shares of the company’s stock after buying an additional 32,389 shares during the period. Aperio Group LLC’s holdings in Techne Corp. were worth $5,101,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of TECH. LS Investment Advisors LLC purchased a new stake in Techne Corp. during the second quarter worth about $103,000. World Asset Management Inc purchased a new stake in Techne Corp. during the second quarter worth about $204,000. Glenmede Trust Co. NA boosted its stake in Techne Corp. by 2.8% in the second quarter. Glenmede Trust Co. NA now owns 1,975 shares of the company’s stock worth $222,000 after buying an additional 53 shares during the last quarter. Eaton Vance Management purchased a new stake in Techne Corp. during the second quarter worth about $283,000. Finally, Cantab Capital Partners LLP purchased a new stake in Techne Corp. during the second quarter worth about $620,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
Techne Corp. (NASDAQ:TECH) traded up 0.87% during midday trading on Tuesday, hitting $106.88. The stock had a trading volume of 121,520 shares. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 40.81 and a beta of 0.72. Techne Corp. has a 1-year low of $79.95 and a 1-year high of $117.42. The company’s 50 day moving average is $104.31 and its 200 day moving average is $108.36.
Techne Corp. (NASDAQ:TECH) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The company earned $130.60 million during the quarter, compared to analysts’ expectations of $127.47 million. Techne Corp. had a return on equity of 14.40% and a net margin of 18.96%. Techne Corp.’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. On average, equities analysts anticipate that Techne Corp. will post $3.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.28 annualized dividend and a yield of 1.20%. Techne Corp.’s dividend payout ratio (DPR) is currently 48.85%.
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A number of analysts recently issued reports on TECH shares. Leerink Swann started coverage on Techne Corp. in a research report on Thursday, November 10th. They set an “outperform” rating and a $122.00 price objective for the company. Zacks Investment Research cut Techne Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 26th. Finally, Robert W. Baird boosted their price target on Techne Corp. from $115.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Techne Corp. has a consensus rating of “Buy” and a consensus target price of $121.00.
In related news, SVP Kevin S. Gould sold 524 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $110.50, for a total value of $57,902.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert V. Baumgartner sold 6,467 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $107.17, for a total transaction of $693,068.39. Following the completion of the sale, the director now owns 8,446 shares of the company’s stock, valued at $905,157.82. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.
Techne Corp. 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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