BIO-TECHNE Corp (TECH) Shares Bought by Federated Investors Inc. PA

Federated Investors Inc. PA lifted its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 10.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,048 shares of the biotechnology company’s stock after buying an additional 1,588 shares during the period. Federated Investors Inc. PA’s holdings in BIO-TECHNE were worth $2,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Conestoga Capital Advisors LLC raised its holdings in shares of BIO-TECHNE by 4.4% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 272,367 shares of the biotechnology company’s stock worth $40,297,000 after purchasing an additional 11,595 shares during the period. Robecosam AG bought a new stake in shares of BIO-TECHNE in the 2nd quarter worth approximately $144,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of BIO-TECHNE by 22.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 24,856 shares of the biotechnology company’s stock worth $3,678,000 after purchasing an additional 4,532 shares during the period. Victory Capital Management Inc. raised its holdings in shares of BIO-TECHNE by 13.3% in the 2nd quarter. Victory Capital Management Inc. now owns 27,917 shares of the biotechnology company’s stock worth $4,130,000 after purchasing an additional 3,282 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of BIO-TECHNE by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 26,087 shares of the biotechnology company’s stock worth $3,860,000 after purchasing an additional 721 shares during the period. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Shares of TECH stock opened at $199.81 on Friday. The company has a current ratio of 5.01, a quick ratio of 3.93 and a debt-to-equity ratio of 0.31. BIO-TECHNE Corp has a 1 year low of $119.01 and a 1 year high of $199.99. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 3.33 and a beta of 0.88.



BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. BIO-TECHNE had a net margin of 19.50% and a return on equity of 14.64%. The business had revenue of $180.25 million for the quarter, compared to analysts’ expectations of $176.24 million. sell-side analysts expect that BIO-TECHNE Corp will post 3.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.28 dividend on an annualized basis and a yield of 0.64%. BIO-TECHNE’s payout ratio is 31.45%.

In other BIO-TECHNE news, Director John L. Higgins sold 10,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $187.92, for a total transaction of $1,879,200.00. Following the sale, the director now owns 13,012 shares of the company’s stock, valued at approximately $2,445,215.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $176.94, for a total transaction of $884,700.00. Following the sale, the director now directly owns 13,212 shares in the company, valued at approximately $2,337,731.28. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

TECH has been the topic of a number of research reports. Argus initiated coverage on shares of BIO-TECHNE in a report on Friday, June 15th. They issued a “buy” rating and a $185.00 price target on the stock. Deutsche Bank cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating and set a $165.00 price target on the stock. in a report on Wednesday, June 27th. BidaskClub cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 28th. Leerink Swann set a $190.00 price target on shares of BIO-TECHNE and gave the stock an “outperform” rating in a report on Wednesday, August 8th. Finally, Robert W. Baird lifted their price target on shares of BIO-TECHNE from $162.00 to $191.00 and gave the stock a “positive” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $185.57.

BIO-TECHNE Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.

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

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