BIO-TECHNE Corp (TECH) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC trimmed its position in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 25.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 78,261 shares of the biotechnology company’s stock after selling 26,171 shares during the quarter. Guggenheim Capital LLC’s holdings in BIO-TECHNE were worth $10,139,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Bamco Inc. NY grew its stake in BIO-TECHNE by 1.4% during the third quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock worth $183,780,000 after buying an additional 20,286 shares during the last quarter. Jackson Square Partners LLC grew its stake in BIO-TECHNE by 8.1% during the fourth quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock worth $120,662,000 after buying an additional 69,784 shares during the last quarter. Bank of New York Mellon Corp grew its stake in BIO-TECHNE by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 501,317 shares of the biotechnology company’s stock worth $60,603,000 after buying an additional 2,698 shares during the last quarter. Citadel Advisors LLC grew its stake in BIO-TECHNE by 28.8% during the fourth quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock worth $53,988,000 after buying an additional 93,175 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in BIO-TECHNE by 13.7% during the fourth quarter. First Trust Advisors LP now owns 410,991 shares of the biotechnology company’s stock worth $53,244,000 after buying an additional 49,470 shares during the last quarter. 97.12% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, Director Charles A. Dinarello sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $136.06, for a total value of $680,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.40% of the company’s stock.

A number of equities analysts have recently issued reports on TECH shares. Deutsche Bank set a $163.00 target price on shares of BIO-TECHNE and gave the stock a “buy” rating in a research report on Thursday, March 1st. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Robert W. Baird upped their target price on shares of BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, December 20th. Finally, Craig Hallum reiterated a “buy” rating and set a $160.00 target price (up from $140.00) on shares of BIO-TECHNE in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. BIO-TECHNE has an average rating of “Buy” and an average target price of $148.60.

BIO-TECHNE stock opened at $144.76 on Friday. BIO-TECHNE Corp has a 12-month low of $98.22 and a 12-month high of $149.68. The stock has a market cap of $5,529.67, a P/E ratio of 47.46, a PEG ratio of 2.83 and a beta of 0.75. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.49 and a current ratio of 3.10.

BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.10. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The company had revenue of $154.15 million for the quarter, compared to analyst estimates of $145.93 million. During the same period in the prior year, the business earned $0.81 earnings per share. BIO-TECHNE’s quarterly revenue was up 16.9% on a year-over-year basis. research analysts anticipate that BIO-TECHNE Corp will post 4.01 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were issued a $0.32 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.28 annualized dividend and a yield of 0.88%. BIO-TECHNE’s dividend payout ratio is currently 41.97%.

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BIO-TECHNE Company Profile

Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.

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

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