Conestoga Capital Advisors LLC lowered its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 9.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,582 shares of the biotechnology company’s stock after selling 26,246 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.66% of Bio-Techne Corp worth $29,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in TECH. UBS Asset Management Americas Inc. increased its position in shares of Bio-Techne Corp by 11.3% during the first quarter. UBS Asset Management Americas Inc. now owns 24,224 shares of the biotechnology company’s stock valued at $2,462,000 after buying an additional 2,453 shares during the period. Prudential Financial Inc. increased its position in shares of Bio-Techne Corp by 5.8% during the first quarter. Prudential Financial Inc. now owns 23,225 shares of the biotechnology company’s stock valued at $2,361,000 after buying an additional 1,278 shares during the period. Teachers Advisors LLC increased its position in shares of Bio-Techne Corp by 13.0% during the first quarter. Teachers Advisors LLC now owns 58,744 shares of the biotechnology company’s stock valued at $5,971,000 after buying an additional 6,743 shares during the period. Legal & General Group Plc increased its position in shares of Bio-Techne Corp by 123.0% during the first quarter. Legal & General Group Plc now owns 24,288 shares of the biotechnology company’s stock valued at $2,468,000 after buying an additional 13,398 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Bio-Techne Corp by 9.6% during the first quarter. Thrivent Financial For Lutherans now owns 7,330 shares of the biotechnology company’s stock valued at $746,000 after buying an additional 640 shares during the period. Institutional investors own 98.70% of the company’s stock.

In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the transaction, the director now owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,359 shares of company stock worth $164,632 in the last three months. Insiders own 3.40% of the company’s stock.

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Shares of Bio-Techne Corp (NASDAQ TECH) traded down 0.698% during midday trading on Wednesday, reaching $130.105. 47,672 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $122.81 and its 200 day moving average price is $116.42. The company has a market cap of $4.86 billion, a price-to-earnings ratio of 64.091 and a beta of 0.76. Bio-Techne Corp has a 12-month low of $95.68 and a 12-month high of $132.57.

Bio-Techne Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Equities analysts anticipate that Bio-Techne Corp will post $4.00 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 9th. Bio-Techne Corp’s dividend payout ratio (DPR) is 65.98%.

Several brokerages recently issued reports on TECH. Citigroup Inc. reiterated a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating on the stock. Finally, Deutsche Bank AG set a $145.00 price target on shares of Bio-Techne Corp and gave the company a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $129.50.

Bio-Techne Corp 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.

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

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