Rice Hall James & Associates LLC lowered its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,244 shares of the biotechnology company’s stock after selling 152 shares during the period. Rice Hall James & Associates LLC’s holdings in BIO-TECHNE were worth $2,761,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in TECH. Flagship Harbor Advisors LLC purchased a new stake in BIO-TECHNE in the second quarter valued at approximately $27,000. Advisory Services Network LLC raised its holdings in BIO-TECHNE by 183.3% in the second quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 99 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new stake in BIO-TECHNE in the first quarter valued at $54,000. Quadrant Capital Group LLC raised its holdings in BIO-TECHNE by 502.1% in the first quarter. Quadrant Capital Group LLC now owns 283 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 236 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new stake in shares of BIO-TECHNE during the first quarter worth $58,000. Institutional investors own 92.09% of the company’s stock.
In other news, SVP Norman David Eansor sold 3,117 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $215.00, for a total transaction of $670,155.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert V. Baumgartner acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $191.06 per share, for a total transaction of $95,530.00. Following the purchase, the director now owns 8,726 shares in the company, valued at $1,667,189.56. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 46,548 shares of company stock worth $9,790,896. Company insiders own 3.80% of the company’s stock.
Shares of BIO-TECHNE stock traded up $0.71 during trading on Thursday, hitting $192.95. 7,021 shares of the company were exchanged, compared to its average volume of 167,287. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 50.83, a P/E/G ratio of 4.09 and a beta of 1.17. BIO-TECHNE Corp has a 1-year low of $132.75 and a 1-year high of $217.15. The stock has a fifty day moving average price of $207.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.05 and a quick ratio of 3.15.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.08. The business had revenue of $191.66 million for the quarter, compared to analysts’ expectations of $196.37 million. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. BIO-TECHNE’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.34 EPS. Sell-side analysts predict that BIO-TECHNE Corp will post 4.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, August 15th. BIO-TECHNE’s dividend payout ratio is currently 33.68%.
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.
Further Reading: What is the Stochastic Momentum Index (SMI)?
Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BIO-TECHNE Corp (NASDAQ:TECH).
Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.