Natixis Raises Position in BIO-TECHNE Corp (NASDAQ:TECH)

Natixis grew its position in BIO-TECHNE Corp (NASDAQ:TECH) by 50.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 20,405 shares of the biotechnology company’s stock after purchasing an additional 6,845 shares during the quarter. Natixis’ holdings in BIO-TECHNE were worth $4,254,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TECH. JPMorgan Chase & Co. raised its holdings in BIO-TECHNE by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 44,864 shares of the biotechnology company’s stock worth $8,909,000 after buying an additional 1,821 shares during the last quarter. Swiss National Bank grew its stake in shares of BIO-TECHNE by 3.0% in the first quarter. Swiss National Bank now owns 68,811 shares of the biotechnology company’s stock worth $13,662,000 after acquiring an additional 2,000 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of BIO-TECHNE by 44.9% in the first quarter. Rockefeller Capital Management L.P. now owns 1,075 shares of the biotechnology company’s stock worth $213,000 after acquiring an additional 333 shares during the period. Principal Financial Group Inc. grew its stake in shares of BIO-TECHNE by 0.6% in the first quarter. Principal Financial Group Inc. now owns 167,883 shares of the biotechnology company’s stock worth $33,333,000 after acquiring an additional 940 shares during the period. Finally, State of Tennessee Treasury Department grew its stake in shares of BIO-TECHNE by 98.0% in the first quarter. State of Tennessee Treasury Department now owns 20,203 shares of the biotechnology company’s stock worth $4,011,000 after acquiring an additional 10,000 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TECH opened at $201.40 on Friday. The firm has a 50 day moving average of $194.30 and a 200 day moving average of $200.61. The company has a current ratio of 4.05, a quick ratio of 3.15 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 53.00, a price-to-earnings-growth ratio of 4.00 and a beta of 1.21. BIO-TECHNE Corp has a 12-month low of $132.75 and a 12-month high of $217.15.

BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.08. The company had revenue of $191.66 million during the quarter, compared to analyst estimates of $196.37 million. BIO-TECHNE had a net margin of 13.45% and a return on equity of 13.20%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. Sell-side analysts predict that BIO-TECHNE Corp will post 4.31 EPS for the current year.

A number of brokerages have recently commented on TECH. BidaskClub upgraded shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. Zacks Investment Research lowered shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a research note on Tuesday, August 13th. TheStreet lowered shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Leerink Swann reiterated an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of BIO-TECHNE in a research note on Thursday, September 26th. Finally, Janney Montgomery Scott upgraded shares of BIO-TECHNE from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $270.00 in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. BIO-TECHNE currently has a consensus rating of “Hold” and an average price target of $212.83.

In related news, CEO Charles R. Kummeth sold 33,031 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $212.60, for a total transaction of $7,022,390.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert V. Baumgartner bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $191.06 per share, with a total value of $95,530.00. Following the completion of the transaction, the director now directly owns 8,726 shares of the company’s stock, valued at approximately $1,667,189.56. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

About BIO-TECHNE

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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