Quadrant Capital Group LLC Acquires 39 Shares of Bio-Techne Co. (NASDAQ:TECH)

Quadrant Capital Group LLC raised its holdings in shares of Bio-Techne Co. (NASDAQ:TECHGet Rating) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 363 shares of the biotechnology company’s stock after purchasing an additional 39 shares during the quarter. Quadrant Capital Group LLC’s holdings in Bio-Techne were worth $157,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TECH. Norges Bank bought a new stake in shares of Bio-Techne during the fourth quarter worth $190,000,000. Marshall Wace LLP raised its holdings in shares of Bio-Techne by 151.9% in the fourth quarter. Marshall Wace LLP now owns 580,835 shares of the biotechnology company’s stock valued at $300,491,000 after acquiring an additional 350,215 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Bio-Techne by 4,682.0% in the first quarter. Assenagon Asset Management S.A. now owns 223,559 shares of the biotechnology company’s stock valued at $96,810,000 after acquiring an additional 218,884 shares in the last quarter. State Street Corp raised its holdings in shares of Bio-Techne by 4.8% in the fourth quarter. State Street Corp now owns 1,608,213 shares of the biotechnology company’s stock valued at $831,993,000 after acquiring an additional 73,760 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Bio-Techne by 64.0% in the fourth quarter. Bank of America Corp DE now owns 142,287 shares of the biotechnology company’s stock valued at $73,610,000 after acquiring an additional 55,522 shares in the last quarter. 94.36% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

TECH opened at $382.97 on Friday. The business’s 50-day moving average is $357.01 and its two-hundred day moving average is $386.28. Bio-Techne Co. has a 1 year low of $318.07 and a 1 year high of $543.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.56 and a quick ratio of 2.79. The firm has a market capitalization of $15.03 billion, a PE ratio of 69.89, a price-to-earnings-growth ratio of 1.80 and a beta of 1.22.

Bio-Techne (NASDAQ:TECHGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.03). Bio-Techne had a return on equity of 16.82% and a net margin of 20.95%. The business had revenue of $288.30 million for the quarter, compared to analysts’ expectations of $287.04 million. During the same quarter in the previous year, the firm posted $1.67 EPS. Bio-Techne’s revenue was up 11.3% on a year-over-year basis. Research analysts anticipate that Bio-Techne Co. will post 7.08 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.33%. Bio-Techne’s payout ratio is 23.36%.

Insider Transactions at Bio-Techne

In other news, CEO Charles R. Kummeth sold 5,104 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $365.00, for a total transaction of $1,862,960.00. Following the sale, the chief executive officer now owns 198,338 shares in the company, valued at $72,393,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Charles R. Kummeth sold 5,104 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $365.00, for a total transaction of $1,862,960.00. Following the sale, the chief executive officer now owns 198,338 shares in the company, valued at $72,393,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Higgins sold 1,000 shares of Bio-Techne stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $364.31, for a total value of $364,310.00. Following the sale, the director now directly owns 4,606 shares of the company’s stock, valued at approximately $1,678,011.86. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the subject of several recent research reports. Stephens decreased their price objective on Bio-Techne from $500.00 to $480.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company downgraded Bio-Techne from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $400.00 to $370.00 in a report on Monday, April 25th. Robert W. Baird decreased their price objective on Bio-Techne from $500.00 to $470.00 in a report on Friday. StockNews.com lowered Bio-Techne from a “buy” rating to a “hold” rating in a research note on Friday. Finally, KeyCorp cut their target price on Bio-Techne from $600.00 to $500.00 in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $489.17.

About Bio-Techne

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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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