Rehmann Capital Advisory Group lifted its holdings in BIO-TECHNE Corp (NASDAQ:TECH) by 19,957.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,096 shares of the biotechnology company’s stock after purchasing an additional 103,577 shares during the period. Rehmann Capital Advisory Group owned 0.28% of BIO-TECHNE worth $510,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in TECH. Strs Ohio acquired a new stake in shares of BIO-TECHNE in the 2nd quarter valued at $454,000. Schwab Charles Investment Management Inc. lifted its stake in shares of BIO-TECHNE by 10.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 273,708 shares of the biotechnology company’s stock valued at $40,496,000 after purchasing an additional 26,305 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of BIO-TECHNE in the 2nd quarter valued at $257,000. CIBC Asset Management Inc acquired a new stake in shares of BIO-TECHNE in the 2nd quarter valued at $203,000. Finally, BlackRock Inc. lifted its stake in shares of BIO-TECHNE by 2.5% in the 2nd quarter. BlackRock Inc. now owns 3,776,455 shares of the biotechnology company’s stock valued at $558,726,000 after purchasing an additional 91,519 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on TECH shares. Zacks Investment Research downgraded shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Wednesday, December 12th. BidaskClub downgraded shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. ValuEngine downgraded shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 11th. Finally, Goldman Sachs Group set a $165.00 target price on shares of BIO-TECHNE and gave the stock a “hold” rating in a report on Friday, November 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $181.00.
Shares of TECH opened at $141.75 on Friday. The firm has a market capitalization of $5.26 billion, a P/E ratio of 34.83, a PEG ratio of 2.45 and a beta of 1.05. BIO-TECHNE Corp has a one year low of $128.06 and a one year high of $206.04. The company has a current ratio of 4.59, a quick ratio of 3.50 and a debt-to-equity ratio of 0.49.
BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $162.34 million. BIO-TECHNE had a net margin of 19.19% and a return on equity of 14.09%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. On average, research analysts expect that BIO-TECHNE Corp will post 3.79 EPS for the current fiscal year.
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BIO-TECHNE Company Profile
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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