Gagnon Securities LLC Acquires 489 Shares of Bio-Techne Co. (NASDAQ:TECH)

Gagnon Securities LLC increased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,858 shares of the biotechnology company’s stock after buying an additional 489 shares during the quarter. Gagnon Securities LLC’s holdings in Bio-Techne were worth $566,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of Bio-Techne by 1.5% during the third quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock worth $511,232,000 after buying an additional 95,133 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Bio-Techne during the third quarter worth about $89,724,000. American Capital Management Inc. grew its holdings in shares of Bio-Techne by 2.5% during the third quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company’s stock worth $89,073,000 after buying an additional 27,508 shares in the last quarter. Geneva Capital Management LLC grew its holdings in shares of Bio-Techne by 1.6% during the third quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock worth $88,267,000 after buying an additional 17,114 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Bio-Techne by 2.1% during the third quarter. Royce & Associates LP now owns 845,398 shares of the biotechnology company’s stock worth $67,573,000 after buying an additional 17,296 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Scotiabank raised their price target on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Robert W. Baird raised their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.00.

Bio-Techne Stock Performance

TECH opened at $73.55 on Friday. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 78.25, a PEG ratio of 5.30 and a beta of 1.27. The business has a 50 day moving average of $74.72 and a 200-day moving average of $74.48. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. On average, equities research analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.