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Huntington National Bank Increases Position in Bio-Techne Corp (TECH)

Bio-Techne Corp logoHuntington National Bank raised its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 6.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,138 shares of the biotechnology company’s stock after buying an additional 121 shares during the period. Huntington National Bank’s holdings in Bio-Techne Corp were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TECH. Israel Discount Bank of New York acquired a new stake in shares of Bio-Techne Corp during the first quarter valued at about $105,000. Flinton Capital Management LLC raised its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares during the last quarter. LS Investment Advisors LLC raised its position in Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in Bio-Techne Corp by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 1,848 shares of the biotechnology company’s stock worth $188,000 after buying an additional 168 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

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Bio-Techne Corp (TECH) traded up 0.75% during trading on Wednesday, hitting $114.44. 259,927 shares of the stock traded hands. The stock has a market cap of $4.27 billion, a P/E ratio of 61.56 and a beta of 0.79. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $119.98. The stock has a 50 day moving average price of $116.32 and a 200-day moving average price of $108.28.

Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. The company had revenue of $156.60 million for the quarter, compared to analyst estimates of $150.25 million. Bio-Techne Corp had a net margin of 12.86% and a return on equity of 13.80%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. On average, analysts anticipate that Bio-Techne Corp will post $3.62 EPS for the current fiscal year.

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A number of equities analysts have weighed in on TECH shares. Deutsche Bank AG reiterated a “buy” rating and issued a $122.00 price target (up from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research report on Thursday, July 6th. TheStreet upgraded shares of Bio-Techne Corp from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $125.20.

In other news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total transaction of $556,850.00. Following the completion of the transaction, the director now directly owns 12,473 shares of the company’s stock, valued at $1,389,118.01. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 10,200 shares of company stock worth $1,135,648 over the last quarter. Insiders own 2.70% of the company’s stock.

About Bio-Techne Corp

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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