Assenagon Asset Management S.A. Buys New Stake in BIO-TECHNE Corp (TECH)

Assenagon Asset Management S.A. bought a new position in BIO-TECHNE Corp (NASDAQ:TECH) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 67,741 shares of the biotechnology company’s stock, valued at approximately $13,827,000. Assenagon Asset Management S.A. owned about 0.18% of BIO-TECHNE at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new stake in BIO-TECHNE in the second quarter valued at approximately $110,000. Bruderman Asset Management LLC bought a new stake in BIO-TECHNE in the second quarter valued at approximately $113,000. Fort L.P. bought a new stake in BIO-TECHNE in the second quarter valued at approximately $115,000. Contravisory Investment Management Inc. bought a new stake in BIO-TECHNE in the second quarter valued at approximately $136,000. Finally, Robecosam AG bought a new stake in BIO-TECHNE in the second quarter valued at approximately $144,000. Institutional investors own 93.93% of the company’s stock.

TECH opened at $166.35 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.93 and a current ratio of 5.01. BIO-TECHNE Corp has a 52-week low of $121.26 and a 52-week high of $206.04. The company has a market cap of $6.80 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 3.05 and a beta of 0.87.



BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%. The firm had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $162.34 million. During the same period in the previous year, the firm earned $0.90 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that BIO-TECHNE Corp will post 3.93 EPS for the current year.

In other news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total transaction of $884,700.00. Following the transaction, the director now directly owns 13,212 shares of the company’s stock, valued at $2,337,731.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Higgins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $187.92, for a total value of $1,879,200.00. Following the transaction, the director now directly owns 13,012 shares in the company, valued at $2,445,215.04. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Several brokerages have weighed in on TECH. BidaskClub upgraded BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup boosted their price objective on BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Goldman Sachs Group began coverage on BIO-TECHNE in a research report on Wednesday, October 17th. They issued a “neutral” rating and a $190.00 price objective for the company. Leerink Swann set a $190.00 price objective on BIO-TECHNE and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Finally, Argus boosted their price objective on BIO-TECHNE from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. BIO-TECHNE currently has a consensus rating of “Buy” and a consensus target price of $191.75.

BIO-TECHNE Company Profile

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

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