Citadel Advisors LLC Has $16.65 Million Stock Position in BIO-TECHNE Corp (NASDAQ:TECH)

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Citadel Advisors LLC reduced its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 30.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 79,845 shares of the biotechnology company’s stock after selling 34,305 shares during the quarter. Citadel Advisors LLC owned approximately 0.21% of BIO-TECHNE worth $16,647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank increased its position in BIO-TECHNE by 3.0% in the 1st quarter. Swiss National Bank now owns 68,811 shares of the biotechnology company’s stock valued at $13,662,000 after acquiring an additional 2,000 shares during the period. DekaBank Deutsche Girozentrale increased its position in BIO-TECHNE by 118.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 30,170 shares of the biotechnology company’s stock valued at $6,227,000 after acquiring an additional 16,360 shares during the period. Rehmann Capital Advisory Group increased its position in BIO-TECHNE by 19.4% in the 1st quarter. Rehmann Capital Advisory Group now owns 609 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 99 shares during the period. California State Teachers Retirement System increased its position in BIO-TECHNE by 0.4% in the 1st quarter. California State Teachers Retirement System now owns 58,833 shares of the biotechnology company’s stock valued at $11,681,000 after acquiring an additional 258 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in BIO-TECHNE in the 2nd quarter valued at approximately $225,000. Hedge funds and other institutional investors own 91.65% of the company’s stock.

In other BIO-TECHNE news, CEO Charles R. Kummeth sold 33,031 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $212.60, for a total value of $7,022,390.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert V. Baumgartner acquired 500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $191.06 per share, for a total transaction of $95,530.00. Following the completion of the purchase, 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. Company insiders own 4.20% of the company’s stock.

Several equities analysts have issued reports on TECH shares. BidaskClub upgraded shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet cut shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a research report on Tuesday, August 13th. Janney Montgomery Scott upgraded shares of BIO-TECHNE from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $270.00 in a research report on Tuesday, July 2nd. Finally, ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $211.17.

NASDAQ:TECH traded up $2.93 during trading hours on Friday, reaching $200.43. The company had a trading volume of 193,587 shares, compared to its average volume of 170,304. The company has a quick ratio of 3.15, a current ratio of 4.05 and a debt-to-equity ratio of 0.42. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 52.74, a P/E/G ratio of 4.26 and a beta of 1.21. The business’s 50-day simple moving average is $194.19 and its two-hundred day simple moving average is $200.26. BIO-TECHNE Corp has a twelve month low of $132.75 and a twelve month high of $217.15.

BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.08. The business had revenue of $191.66 million during the quarter, compared to analysts’ expectations of $196.37 million. BIO-TECHNE had a net margin of 13.45% and a return on equity of 13.20%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.34 earnings per share. As a group, equities analysts predict that BIO-TECHNE Corp will post 4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, August 15th. BIO-TECHNE’s payout ratio is 33.68%.

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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