Bio-Techne Corp (TECH) Shares Bought by Teacher Retirement System of Texas
Teacher Retirement System of Texas increased its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 212.2% during the second quarter, Holdings Channel reports. The firm owned 9,291 shares of the biotechnology company’s stock after buying an additional 6,315 shares during the period. Teacher Retirement System of Texas’ holdings in Bio-Techne Corp were worth $1,092,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of TECH. Teachers Advisors LLC boosted its position in shares of Bio-Techne Corp by 41.4% in the fourth quarter. Teachers Advisors LLC now owns 52,001 shares of the biotechnology company’s stock worth $5,347,000 after buying an additional 15,216 shares during the period. Capstone Asset Management Co. boosted its position in shares of Bio-Techne Corp by 5.4% in the first quarter. Capstone Asset Management Co. now owns 7,650 shares of the biotechnology company’s stock worth $778,000 after buying an additional 390 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Bio-Techne Corp by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,400 shares of the biotechnology company’s stock worth $956,000 after buying an additional 200 shares during the period. Huntington National Bank boosted its position in shares of Bio-Techne Corp by 17.0% in the first quarter. Huntington National Bank now owns 2,017 shares of the biotechnology company’s stock worth $205,000 after buying an additional 293 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Bio-Techne Corp by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 3,557 shares of the biotechnology company’s stock worth $361,000 after buying an additional 160 shares during the period. 99.17% of the stock is owned by institutional investors.
Bio-Techne Corp (NASDAQ:TECH) opened at 117.90 on Friday. The stock has a market capitalization of $4.40 billion, a PE ratio of 57.23 and a beta of 0.79. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $121.94. The stock’s 50 day moving average is $116.61 and its 200-day moving average is $109.56.
Bio-Techne Corp (NASDAQ:TECH) last released its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. During the same period in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 16.2% on a year-over-year basis. Equities research analysts forecast that Bio-Techne Corp will post $3.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, August 16th. Bio-Techne Corp’s dividend payout ratio is presently 65.98%.
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TECH has been the subject of a number of research analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $125.00 target price (up from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $122.00 target price (up from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. TheStreet raised shares of Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Finally, BidaskClub cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $127.50.
In related news, Director Charles A. Dinarello sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $111.37, for a total transaction of $556,850.00. Following the completion of the sale, the director now directly owns 12,473 shares of the company’s stock, valued at $1,389,118.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 10,300 shares of company stock valued at $1,147,078. Company 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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