Quantum Capital Management Lowers stake in BIO-TECHNE Corp (TECH)

BIO-TECHNE Corp (TECH) : Quantum Capital Management reduced its stake in BIO-TECHNE Corp by 4.23% during the most recent quarter end. The investment management company now holds a total of 168,062 shares of BIO-TECHNE Corp which is valued at $18,636,395 after selling 7,424 shares in BIO-TECHNE Corp , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.BIO-TECHNE Corp makes up approximately 2.52% of Quantum Capital Management’s portfolio.

Other Hedge Funds, Including , Snyder Capital Management L P reduced its stake in TECH by selling 2,643 shares or 12.91% in the most recent quarter. The Hedge Fund company now holds 17,832 shares of TECH which is valued at $1,977,390. BIO-TECHNE Corp makes up approx 0.12% of Snyder Capital Management L P’s portfolio. Hanseatic Management Services Inc added TECH to its portfolio by purchasing 5,776 company shares during the most recent quarter which is valued at $650,493. BIO-TECHNE Corp makes up approx 0.23% of Hanseatic Management Services Inc’s portfolio. Underhill Investment Management added TECH to its portfolio by purchasing 1,900 company shares during the most recent quarter which is valued at $210,349. BIO-TECHNE Corp makes up approx 0.11% of Underhill Investment Management’s portfolio.Parkwood reduced its stake in TECH by selling 816 shares or 14.75% in the most recent quarter. The Hedge Fund company now holds 4,718 shares of TECH which is valued at $522,519. BIO-TECHNE Corp makes up approx 0.09% of Parkwood’s portfolio.

BIO-TECHNE Corp closed down -0.56 points or -0.52% at $106.63 with 1,32,602 shares getting traded on Tuesday. Post opening the session at $106.78, the shares hit an intraday low of $106.56 and an intraday high of $107.69 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, BIO-TECHNE Corp reported $0.92 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 17, 2016. Analyst had a consensus of $0.93. The company had revenue of $134.80 million for the quarter, compared to analysts expectations of $128.91 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS.

Bio-Techne Corporation (Bio-Techne) formerly Techne Corporation develops manufactures and sells biotechnology reagents instruments and clinical diagnostic products around the world. The Company has three business segments: the Biotechnology Clinical Controls and Protein Platforms divisions. The Biotechnology segment develops manufactures and sells biotechnology research and diagnostic products around the world. The Clinical Controls segment develops and manufactures controls and calibrators for the global clinical market. The Protein Platforms segment develops and commercializes systems and consumables for protein analysis. Bio-Techne is engaged in providing specialized proteins including cytokines and growth factors antibodies related immunoassays biologically active small molecules and other reagents to the research diagnostics and clinical controls markets.

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