Bio-Techne Corp (TECH) Position Cut by American Century Companies Inc.
American Century Companies Inc. trimmed its stake in Bio-Techne Corp (NASDAQ:TECH) by 23.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 556,401 shares of the biotechnology company’s stock after selling 175,188 shares during the quarter. American Century Companies Inc. owned about 1.49% of Bio-Techne Corp worth $67,263,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in TECH. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bio-Techne Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after purchasing an additional 163 shares during the period. Underhill Investment Management LLC acquired a new position in Bio-Techne Corp during the second quarter valued at approximately $223,000. Flinton Capital Management LLC lifted its position in Bio-Techne Corp by 84.8% during the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 896 shares in the last quarter. LS Investment Advisors LLC lifted its position in Bio-Techne Corp by 22.0% during the second quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 377 shares in the last quarter. Finally, Huntington National Bank lifted its position in Bio-Techne Corp by 6.0% during the second quarter. Huntington National Bank now owns 2,138 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
In other news, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the transaction, the director now directly owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Karen A. Holbrook sold 1,059 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the transaction, the director now directly owns 914 shares in the company, valued at $111,261.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,259 shares of company stock worth $804,102. Corporate insiders own 3.40% of the company’s stock.
Bio-Techne Corp (NASDAQ:TECH) opened at $124.24 on Friday. Bio-Techne Corp has a 12-month low of $95.68 and a 12-month high of $132.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.25 and a current ratio of 2.87. The company has a market cap of $4,654.28, a price-to-earnings ratio of 35.80, a PEG ratio of 3.10 and a beta of 0.74.
Bio-Techne Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. Bio-Techne Corp had a net margin of 12.54% and a return on equity of 14.11%. The business had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. During the same period in the previous year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts anticipate that Bio-Techne Corp will post 3.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.03%. Bio-Techne Corp’s payout ratio is currently 66.32%.
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A number of research analysts have weighed in on TECH shares. Zacks Investment Research cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 price target (down from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Deutsche Bank AG set a $145.00 price target on shares of Bio-Techne Corp and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, BidaskClub cut shares of Bio-Techne Corp from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $134.33.
Bio-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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