First Mercantile Trust Co. reduced its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,805 shares of the biotechnology company’s stock after selling 1,525 shares during the period. First Mercantile Trust Co.’s holdings in Bio-Techne Corp were worth $565,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Israel Discount Bank of New York purchased a new position in shares of Bio-Techne Corp during the first quarter worth $105,000. Flinton Capital Management LLC boosted its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,848 shares of the biotechnology company’s stock worth $188,000 after buying an additional 168 shares in the last quarter. 99.17% of the stock is owned by institutional investors.

Bio-Techne Corp (TECH) opened at 117.47 on Tuesday. The stock has a 50 day moving average price of $116.63 and a 200-day moving average price of $109.18. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $121.94. The stock has a market cap of $4.39 billion, a PE ratio of 57.02 and a beta of 0.79.

Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. Bio-Techne Corp had a return on equity of 14.18% and a net margin of 12.93%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, analysts expect that Bio-Techne Corp will post $3.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.28 annualized dividend and a dividend yield of 1.09%. Bio-Techne Corp’s dividend payout ratio (DPR) is 65.98%.

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TECH has been the subject of a number of research analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $122.00 price target (up previously from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. Citigroup Inc. restated a “buy” rating and issued a $125.00 price target (up previously from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Zacks Investment Research cut Bio-Techne Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $125.20.

In other news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total value of $556,850.00. Following the completion of the sale, the director now owns 12,473 shares in the company, valued at $1,389,118.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 10,300 shares of company stock valued at $1,147,078. Insiders own 2.70% of the company’s stock.

About Bio-Techne Corp

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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Institutional Ownership by Quarter for Bio-Techne Corp (NASDAQ:TECH)

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