Goldman Sachs Group Inc. lifted its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 206,280 shares of the biotechnology company’s stock after acquiring an additional 12,518 shares during the period. Goldman Sachs Group Inc. owned 0.54% of BIO-TECHNE worth $45,281,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of BIO-TECHNE in the fourth quarter valued at approximately $52,195,000. Jackson Square Partners LLC raised its holdings in BIO-TECHNE by 7.5% during the fourth quarter. Jackson Square Partners LLC now owns 979,957 shares of the biotechnology company’s stock worth $215,110,000 after purchasing an additional 68,434 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in BIO-TECHNE by 31.1% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 170,307 shares of the biotechnology company’s stock worth $37,384,000 after purchasing an additional 40,450 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in BIO-TECHNE by 4.3% during the fourth quarter. Champlain Investment Partners LLC now owns 867,675 shares of the biotechnology company’s stock worth $190,463,000 after purchasing an additional 35,815 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in BIO-TECHNE by 15.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 179,982 shares of the biotechnology company’s stock worth $39,508,000 after purchasing an additional 23,677 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Charles R. Kummeth sold 7,999 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $217.56, for a total value of $1,740,262.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is owned by corporate insiders.
TECH stock opened at $172.49 on Thursday. The stock has a 50-day moving average price of $191.51 and a two-hundred day moving average price of $205.14. BIO-TECHNE Corp has a 12-month low of $155.17 and a 12-month high of $223.29. The company has a current ratio of 4.43, a quick ratio of 3.52 and a debt-to-equity ratio of 0.33. The company has a market cap of $6.52 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 3.71 and a beta of 1.27.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, February 4th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.05). BIO-TECHNE had a net margin of 26.20% and a return on equity of 12.45%. The firm had revenue of $184.93 million for the quarter, compared to analysts’ expectations of $191.34 million. During the same period last year, the firm posted $1.06 EPS. BIO-TECHNE’s revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that BIO-TECHNE Corp will post 4.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, February 13th. BIO-TECHNE’s payout ratio is 33.68%.
A number of equities analysts have recently weighed in on TECH shares. Zacks Investment Research cut BIO-TECHNE from a “hold” rating to a “strong sell” rating in a report on Saturday, February 8th. BidaskClub raised BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Tuesday, March 10th. Wells Fargo & Co started coverage on BIO-TECHNE in a report on Tuesday, January 7th. They issued an “equal weight” rating and a $230.00 price target for the company. Robert W. Baird boosted their price target on BIO-TECHNE from $222.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Eight Capital cut BIO-TECHNE from a “buy” rating to a “neutral” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $231.86.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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