Massachusetts Financial Services Co. MA increased its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 951,301 shares of the biotechnology company’s stock after buying an additional 31,700 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in BIO-TECHNE were worth $186,141,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in shares of BIO-TECHNE by 118.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 30,170 shares of the biotechnology company’s stock valued at $6,227,000 after purchasing an additional 16,360 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of BIO-TECHNE during the 2nd quarter valued at about $225,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of BIO-TECHNE during the 2nd quarter valued at about $676,000. Highland Capital Management LLC purchased a new position in shares of BIO-TECHNE during the 2nd quarter valued at about $1,935,000. Finally, Vanguard Group Inc. raised its stake in shares of BIO-TECHNE by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,512,553 shares of the biotechnology company’s stock valued at $732,332,000 after buying an additional 19,589 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.
Shares of NASDAQ:TECH traded up $0.47 during trading on Wednesday, reaching $204.43. 2,484 shares of the company’s stock traded hands, compared to its average volume of 168,662. BIO-TECHNE Corp has a fifty-two week low of $132.75 and a fifty-two week high of $217.15. The company has a quick ratio of 3.41, a current ratio of 4.44 and a debt-to-equity ratio of 0.47. The firm has a market cap of $7.74 billion, a PE ratio of 53.84, a P/E/G ratio of 4.33 and a beta of 1.22. The company has a 50-day simple moving average of $202.13 and a 200-day simple moving average of $201.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, November 7th. BIO-TECHNE’s payout ratio is 33.68%.
In other news, CEO Charles R. Kummeth acquired 200 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.
A number of equities analysts have weighed in on the company. Leerink Swann reiterated an “outperform” rating and set a $240.00 price objective (up previously from $230.00) on shares of BIO-TECHNE in a research note on Thursday, September 26th. ValuEngine upgraded BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Zacks Investment Research cut BIO-TECHNE from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. TheStreet cut BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Finally, BidaskClub upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $212.83.
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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