Mason Street Advisors LLC lessened its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,962 shares of the biotechnology company’s stock after selling 225 shares during the period. Mason Street Advisors LLC owned 0.05% of BIO-TECHNE worth $3,906,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TECH. Eagle Asset Management Inc. raised its stake in BIO-TECHNE by 1.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 48,486 shares of the biotechnology company’s stock valued at $9,487,000 after buying an additional 871 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of BIO-TECHNE during the 3rd quarter valued at about $226,000. SRS Capital Advisors Inc. raised its position in BIO-TECHNE by 20.6% in the 3rd quarter. SRS Capital Advisors Inc. now owns 832 shares of the biotechnology company’s stock worth $163,000 after purchasing an additional 142 shares during the period. Picton Mahoney Asset Management raised its position in BIO-TECHNE by 5.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 7,580 shares of the biotechnology company’s stock worth $1,483,000 after purchasing an additional 380 shares during the period. Finally, Synovus Financial Corp purchased a new position in shares of BIO-TECHNE during the third quarter worth approximately $454,000. Institutional investors own 91.53% of the company’s stock.
TECH traded up $1.50 on Wednesday, reaching $205.46. 1,826 shares of the company’s stock were exchanged, compared to its average volume of 168,662. The stock has a market cap of $7.74 billion, a PE ratio of 53.93, a P/E/G ratio of 4.33 and a beta of 1.22. BIO-TECHNE Corp has a twelve month low of $132.75 and a twelve month high of $217.15. The stock’s fifty day moving average price is $202.13 and its 200-day moving average price is $201.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.44 and a quick ratio of 3.41.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.32 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.28 annualized dividend and a yield of 0.62%. BIO-TECHNE’s payout ratio is 33.68%.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Leerink Swann reissued an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of BIO-TECHNE in a report on Thursday, September 26th. BidaskClub raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. ValuEngine raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, TheStreet cut shares of BIO-TECHNE from a “b” rating to a “c+” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $212.83.
In other news, CEO Charles R. Kummeth bought 200 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $185.00 per share, for a total transaction of $37,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.20% of the company’s stock.
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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