Wells Fargo & Company MN Acquires 1,617 Shares of BIO-TECHNE Corp (NASDAQ:TECH)
Wells Fargo & Company MN grew its holdings in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 54,750 shares of the biotechnology company’s stock after acquiring an additional 1,617 shares during the quarter. Wells Fargo & Company MN’s holdings in BIO-TECHNE were worth $11,414,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Jackson Square Partners LLC lifted its position in shares of BIO-TECHNE by 3.9% in the 1st quarter. Jackson Square Partners LLC now owns 882,634 shares of the biotechnology company’s stock worth $175,246,000 after purchasing an additional 33,357 shares during the period. Champlain Investment Partners LLC raised its holdings in BIO-TECHNE by 1.7% in the first quarter. Champlain Investment Partners LLC now owns 720,090 shares of the biotechnology company’s stock worth $142,974,000 after purchasing an additional 11,990 shares in the last quarter. Geode Capital Management LLC lifted its position in BIO-TECHNE by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock valued at $60,275,000 after buying an additional 27,587 shares during the period. New York State Common Retirement Fund lifted its position in BIO-TECHNE by 0.3% during the first quarter. New York State Common Retirement Fund now owns 352,156 shares of the biotechnology company’s stock valued at $69,921,000 after buying an additional 900 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of BIO-TECHNE by 2.3% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 328,584 shares of the biotechnology company’s stock valued at $68,506,000 after buying an additional 7,256 shares in the last quarter. Institutional investors own 92.51% of the company’s stock.
A number of analysts have recently weighed in on TECH shares. TheStreet downgraded shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Janney Montgomery Scott raised shares of BIO-TECHNE from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $270.00 in a research note on Tuesday, July 2nd. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, BidaskClub downgraded shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $211.17.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.08. The firm had revenue of $191.66 million during the quarter, compared to the consensus estimate of $196.37 million. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. Equities research analysts anticipate that BIO-TECHNE Corp will post 4.24 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, August 15th. BIO-TECHNE’s payout ratio is 33.68%.
In other news, Director Robert V. Baumgartner bought 500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $191.06 per share, with a total value of $95,530.00. Following the completion of the acquisition, the director now owns 8,726 shares of the company’s stock, valued at $1,667,189.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles R. Kummeth sold 33,031 shares of BIO-TECHNE stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $212.60, for a total transaction of $7,022,390.60. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
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.
Featured Story: Diluted Earnings Per Share
Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BIO-TECHNE Corp (NASDAQ:TECH).
Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.