Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Man Group plc

Man Group plc cut its position in Bio-Techne Co. (NASDAQ:TECH) by 36.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,808 shares of the biotechnology company’s stock after selling 13,136 shares during the quarter. Man Group plc owned 0.06% of Bio-Techne worth $8,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in Bio-Techne by 0.6% in the 1st quarter. California State Teachers Retirement System now owns 68,766 shares of the biotechnology company’s stock worth $26,264,000 after buying an additional 430 shares in the last quarter. Ameritas Investment Company LLC acquired a new position in shares of Bio-Techne in the first quarter worth about $84,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Bio-Techne in the first quarter worth about $915,000. Captrust Financial Advisors boosted its holdings in Bio-Techne by 1.1% in the first quarter. Captrust Financial Advisors now owns 12,208 shares of the biotechnology company’s stock valued at $4,663,000 after purchasing an additional 138 shares during the last quarter. Finally, Corient Capital Partners LLC acquired a new stake in Bio-Techne during the 1st quarter valued at approximately $384,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:TECH opened at $463.14 on Thursday. The company has a market cap of $18.01 billion, a P/E ratio of 101.12, a PEG ratio of 3.22 and a beta of 1.13. Bio-Techne Co. has a fifty-two week low of $228.66 and a fifty-two week high of $469.33. The firm’s 50-day simple moving average is $434.07. The company has a current ratio of 4.12, a quick ratio of 3.32 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Thursday, May 6th. The biotechnology company reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.55. Bio-Techne had a net margin of 21.74% and a return on equity of 13.37%. The firm had revenue of $243.55 million for the quarter, compared to analysts’ expectations of $228.57 million. During the same quarter last year, the company posted $1.39 earnings per share. Bio-Techne’s revenue was up 25.1% on a year-over-year basis. As a group, analysts expect that Bio-Techne Co. will post 5.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Monday, May 17th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 14th. This represents a $1.28 dividend on an annualized basis and a yield of 0.28%. Bio-Techne’s dividend payout ratio is currently 33.16%.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Bio-Techne from a “hold” rating to a “buy” rating and set a $459.00 target price for the company in a research note on Thursday, June 3rd. Argus increased their price objective on shares of Bio-Techne from $440.00 to $490.00 and gave the company a “buy” rating in a research note on Friday, June 18th. Robert W. Baird boosted their target price on shares of Bio-Techne from $410.00 to $430.00 and gave the stock an “outperform” rating in a research report on Friday, May 7th. Finally, SVB Leerink upped their target price on shares of Bio-Techne from $450.00 to $480.00 and gave the company an “outperform” rating in a research note on Tuesday, June 29th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $424.91.

In other Bio-Techne news, CFO James Hippel sold 9,942 shares of the firm’s stock in a transaction on Monday, June 7th. The stock was sold at an average price of $421.93, for a total value of $4,194,828.06. Following the sale, the chief financial officer now directly owns 19,079 shares in the company, valued at $8,050,002.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles R. Kummeth sold 12,498 shares of the firm’s stock in a transaction on Friday, June 18th. The shares were sold at an average price of $449.67, for a total value of $5,619,975.66. Insiders sold 41,577 shares of company stock worth $18,451,038 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates in two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment offers proteins and reagent solutions, including cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents, and T-Cell activation technologies.

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

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