HPM Partners LLC bought a new position in BIO-TECHNE Corp (NASDAQ:TECH) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,703 shares of the biotechnology company’s stock, valued at approximately $1,288,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in BIO-TECHNE by 2.5% during the second quarter. BlackRock Inc. now owns 3,776,455 shares of the biotechnology company’s stock valued at $558,726,000 after acquiring an additional 91,519 shares during the period. Janus Henderson Group PLC raised its holdings in BIO-TECHNE by 5.8% during the second quarter. Janus Henderson Group PLC now owns 1,393,027 shares of the biotechnology company’s stock valued at $206,098,000 after acquiring an additional 76,538 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in BIO-TECHNE by 29.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 598,005 shares of the biotechnology company’s stock valued at $88,475,000 after acquiring an additional 134,771 shares during the period. Fred Alger Management Inc. raised its holdings in BIO-TECHNE by 33.7% during the second quarter. Fred Alger Management Inc. now owns 498,960 shares of the biotechnology company’s stock valued at $73,821,000 after acquiring an additional 125,819 shares during the period. Finally, First Trust Advisors LP raised its holdings in BIO-TECHNE by 14.8% during the second quarter. First Trust Advisors LP now owns 477,014 shares of the biotechnology company’s stock valued at $70,574,000 after acquiring an additional 61,674 shares during the period. 94.72% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on TECH shares. BidaskClub raised BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 28th. Argus assumed coverage on BIO-TECHNE in a research report on Friday, June 15th. They set a “buy” rating and a $185.00 price objective for the company. Craig Hallum raised their price objective on BIO-TECHNE from $160.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Citigroup raised their price objective on BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Robert W. Baird raised their price objective on BIO-TECHNE from $162.00 to $191.00 and gave the company a “positive” rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $185.57.

In related news, Director John L. Higgins sold 10,000 shares of BIO-TECHNE stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $187.92, for a total value of $1,879,200.00. Following the completion of the transaction, the director now owns 13,012 shares in the company, valued at $2,445,215.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles A. Dinarello sold 5,000 shares of BIO-TECHNE stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total value of $884,700.00. Following the completion of the transaction, the director now owns 13,212 shares of the company’s stock, valued at approximately $2,337,731.28. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Shares of BIO-TECHNE stock opened at $199.81 on Monday. The stock has a market cap of $7.40 billion, a PE ratio of 49.09, a PEG ratio of 3.33 and a beta of 0.88. The company has a quick ratio of 3.93, a current ratio of 5.01 and a debt-to-equity ratio of 0.31. BIO-TECHNE Corp has a twelve month low of $119.01 and a twelve month high of $199.99.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.05. The firm had revenue of $180.25 million during the quarter, compared to analyst estimates of $176.24 million. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%. analysts anticipate that BIO-TECHNE Corp will post 3.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.64%. BIO-TECHNE’s payout ratio is 31.45%.

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 through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.

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Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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