BIO-TECHNE Corp (TECH) Stake Lessened by Assenagon Asset Management S.A.

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Assenagon Asset Management S.A. trimmed its stake in BIO-TECHNE Corp (NASDAQ:TECH) by 58.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,380 shares of the biotechnology company’s stock after selling 39,361 shares during the period. Assenagon Asset Management S.A. owned 0.08% of BIO-TECHNE worth $4,107,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in BIO-TECHNE by 220.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 489 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in BIO-TECHNE during the 3rd quarter valued at about $192,000. Rossmore Private Capital bought a new stake in BIO-TECHNE during the 3rd quarter valued at about $204,000. Chicago Capital LLC bought a new stake in BIO-TECHNE during the 3rd quarter valued at about $204,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in BIO-TECHNE during the 3rd quarter valued at about $204,000. 93.32% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have weighed in on the stock. ValuEngine upgraded shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 5th. Craig Hallum reiterated a “hold” rating and issued a $179.00 price target (up from $154.00) on shares of BIO-TECHNE in a research note on Tuesday, February 5th. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Stephens upgraded shares of BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price target for the company in a research note on Monday, January 14th. Finally, Zacks Investment Research upgraded shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $183.67.

NASDAQ:TECH traded down $0.50 during trading hours on Friday, hitting $183.73. 198,779 shares of the stock traded hands, compared to its average volume of 239,574. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.35 and a quick ratio of 3.50. BIO-TECHNE Corp has a 1 year low of $129.72 and a 1 year high of $206.04. The company has a market capitalization of $6.94 billion, a P/E ratio of 45.14, a P/E/G ratio of 4.05 and a beta of 1.18.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The business had revenue of $174.50 million for the quarter, compared to the consensus estimate of $171.39 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, sell-side analysts anticipate that BIO-TECHNE Corp will post 3.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, February 14th. BIO-TECHNE’s payout ratio is currently 31.45%.

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About BIO-TECHNE

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.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

Institutional Ownership by Quarter for BIO-TECHNE (NASDAQ:TECH)

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