Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Holdings in BIO-TECHNE Corp (TECH)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 24.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,666 shares of the biotechnology company’s stock after selling 2,476 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in BIO-TECHNE were worth $1,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in BIO-TECHNE by 9.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,604 shares of the biotechnology company’s stock valued at $533,000 after purchasing an additional 299 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of BIO-TECHNE by 14.4% during the second quarter. Brookstone Capital Management now owns 3,378 shares of the biotechnology company’s stock worth $500,000 after buying an additional 426 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of BIO-TECHNE by 220.3% during the third quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock worth $145,000 after buying an additional 489 shares in the last quarter. Swiss National Bank lifted its holdings in shares of BIO-TECHNE by 0.8% during the third quarter. Swiss National Bank now owns 65,511 shares of the biotechnology company’s stock worth $13,371,000 after buying an additional 500 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of BIO-TECHNE by 2.7% during the third quarter. Arizona State Retirement System now owns 26,791 shares of the biotechnology company’s stock worth $5,468,000 after buying an additional 704 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.

TECH has been the subject of a number of research reports. Zacks Investment Research downgraded BIO-TECHNE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th. BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. Craig Hallum lifted their target price on BIO-TECHNE from $160.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Citigroup lifted their target price on BIO-TECHNE from $160.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Robert W. Baird lifted their target price on BIO-TECHNE from $162.00 to $191.00 and gave the stock a “positive” rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. BIO-TECHNE has an average rating of “Buy” and a consensus price target of $184.13.

TECH opened at $159.48 on Friday. BIO-TECHNE Corp has a fifty-two week low of $125.84 and a fifty-two week high of $206.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.59 and a quick ratio of 3.50. The firm has a market cap of $5.91 billion, a PE ratio of 39.18, a PEG ratio of 2.76 and a beta of 1.04.

BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. The company had revenue of $163.00 million during the quarter, compared to the consensus estimate of $162.34 million. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. On average, sell-side analysts predict that BIO-TECHNE Corp will post 3.79 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, November 8th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.

ILLEGAL ACTIVITY WARNING: “Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Holdings in BIO-TECHNE Corp (TECH)” was first published by WKRB News and is owned by of WKRB News. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.wkrb13.com/2018/11/25/commonwealth-of-pennsylvania-public-school-empls-retrmt-sys-cuts-holdings-in-bio-techne-corp-tech.html.

About BIO-TECHNE

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.

See Also: Insider Trading

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

Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply