Ieq Capital LLC purchased a new position in Bio-Techne Co. (NASDAQ:TECH – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,241 shares of the biotechnology company’s stock, valued at approximately $240,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TECH. Quantbot Technologies LP purchased a new stake in shares of Bio-Techne in the first quarter worth $56,000. Harbour Investments Inc. grew its holdings in shares of Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $29,000. Financial Freedom LLC purchased a new position in Bio-Techne in the 1st quarter worth approximately $30,000. Finally, Ellevest Inc. lifted its position in Bio-Techne by 176.9% in the 4th quarter. Ellevest Inc. now owns 479 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 306 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.
Insider Transactions at Bio-Techne
In other news, CEO Charles R. Kummeth sold 80,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $88.36, for a total transaction of $7,068,800.00. Following the sale, the chief executive officer now directly owns 1,258,766 shares in the company, valued at approximately $111,224,563.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.45% of the company’s stock.
Bio-Techne Price Performance
Bio-Techne (NASDAQ:TECH – Get Free Report) last released its earnings results on Wednesday, May 3rd. The biotechnology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm had revenue of $294.15 million for the quarter, compared to the consensus estimate of $298.55 million. Bio-Techne had a net margin of 24.15% and a return on equity of 15.31%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, analysts forecast that Bio-Techne Co. will post 1.72 EPS for the current fiscal year.
Bio-Techne Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Monday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, May 12th. Bio-Techne’s dividend payout ratio is presently 19.16%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. StockNews.com initiated coverage on Bio-Techne in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird raised their target price on shares of Bio-Techne from $99.00 to $100.00 in a report on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.45.
Bio-Techne Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures 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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