Walleye Capital LLC bought a new position in Bio-Techne Co. (NASDAQ:TECH – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,344 shares of the biotechnology company’s stock, valued at approximately $582,000.
Several other large investors have also added to or reduced their stakes in TECH. Ensign Peak Advisors Inc lifted its holdings in shares of Bio-Techne by 603.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 12,870 shares of the biotechnology company’s stock worth $6,658,000 after purchasing an additional 11,041 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Bio-Techne by 240.7% in the 4th quarter. Renaissance Technologies LLC now owns 9,200 shares of the biotechnology company’s stock valued at $4,760,000 after acquiring an additional 6,500 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Bio-Techne by 1.2% in the 4th quarter. American International Group Inc. now owns 12,322 shares of the biotechnology company’s stock valued at $6,375,000 after acquiring an additional 144 shares during the last quarter. Invesco Ltd. increased its stake in shares of Bio-Techne by 8.2% in the fourth quarter. Invesco Ltd. now owns 489,904 shares of the biotechnology company’s stock worth $253,447,000 after acquiring an additional 37,150 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Bio-Techne during the fourth quarter worth $209,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.
Insiders Place Their Bets
In related news, Director John L. Higgins sold 1,992 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $377.11, for a total transaction of $751,203.12. Following the completion of the sale, the director now directly owns 6,014 shares in the company, valued at $2,267,939.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.45% of the stock is owned by company insiders.
Bio-Techne Stock Down 1.3 %
Bio-Techne (NASDAQ:TECH – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.03). The company had revenue of $288.30 million during the quarter, compared to analysts’ expectations of $287.04 million. Bio-Techne had a return on equity of 16.97% and a net margin of 24.61%. Bio-Techne’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 EPS. Analysts predict that Bio-Techne Co. will post 7.73 earnings per share for the current fiscal year.
Bio-Techne Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, August 12th. Bio-Techne’s dividend payout ratio is presently 19.34%.
Analyst Ratings Changes
Several equities research analysts have weighed in on TECH shares. Wells Fargo & Company cut their price target on Bio-Techne from $370.00 to $360.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 16th. Robert W. Baird dropped their target price on Bio-Techne from $500.00 to $470.00 in a report on Friday, August 5th. Stephens decreased their price target on Bio-Techne from $500.00 to $480.00 and set an “overweight” rating for the company in a report on Friday, August 5th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, September 9th. Finally, Credit Suisse Group started coverage on shares of Bio-Techne in a research note on Wednesday, August 24th. They issued an “outperform” rating and a $465.00 target price for the company. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus target price of $475.00.
Bio-Techne Company 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 through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.
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