South Dakota Investment Council increased its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 268.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,900 shares of the biotechnology company’s stock after buying an additional 9,400 shares during the period. South Dakota Investment Council’s holdings in BIO-TECHNE were worth $2,690,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in BIO-TECHNE in the second quarter worth about $27,000. Advisory Services Network LLC grew its holdings in BIO-TECHNE by 183.3% during the 2nd quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 99 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in BIO-TECHNE during the 1st quarter valued at about $58,000. FinTrust Capital Advisors LLC increased its position in BIO-TECHNE by 1,694.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 323 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 305 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in BIO-TECHNE during the 2nd quarter valued at about $77,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.
NASDAQ:TECH traded up $7.24 during midday trading on Wednesday, reaching $195.28. 10,962 shares of the stock traded hands, compared to its average volume of 153,014. BIO-TECHNE Corp has a 12-month low of $132.75 and a 12-month high of $217.15. The business has a 50-day moving average of $196.47 and a two-hundred day moving average of $200.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.15 and a current ratio of 4.05. The stock has a market capitalization of $6.99 billion, a PE ratio of 51.14, a price-to-earnings-growth ratio of 3.94 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, August 15th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 33.68%.
In related news, Director Robert V. Baumgartner acquired 500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $191.06 per share, for a total transaction of $95,530.00. Following the completion of the acquisition, the director now directly owns 8,726 shares in the company, valued at approximately $1,667,189.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles R. Kummeth sold 33,031 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $212.60, for a total transaction of $7,022,390.60. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
Several equities research analysts have recently weighed in on TECH shares. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a research report on Tuesday, August 13th. ValuEngine downgraded shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub lowered shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Friday, September 6th. TheStreet downgraded shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Finally, Janney Montgomery Scott upgraded BIO-TECHNE from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $270.00 in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $211.17.
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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