Riverbridge Partners Lowers stake in BIO-TECHNE Corp (TECH)

BIO-TECHNE Corp (TECH) : Riverbridge Partners reduced its stake in BIO-TECHNE Corp by 3.18% during the most recent quarter end. The investment management company now holds a total of 698,725 shares of BIO-TECHNE Corp which is valued at $78,711,371 after selling 22,933 shares in BIO-TECHNE Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.BIO-TECHNE Corp makes up approximately 1.58% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , Mondrian Investment Partners Ltd reduced its stake in TECH by selling 2,526 shares or 13.46% in the most recent quarter. The Hedge Fund company now holds 16,245 shares of TECH which is valued at $1,829,999. BIO-TECHNE Corp makes up approx 0.04% of Mondrian Investment Partners Ltd’s portfolio.American Century Companies Inc reduced its stake in TECH by selling 1,601 shares or 21.08% in the most recent quarter. The Hedge Fund company now holds 5,995 shares of TECH which is valued at $663,706.Windsor Financial Group reduced its stake in TECH by selling 748 shares or 5.98% in the most recent quarter. The Hedge Fund company now holds 11,750 shares of TECH which is valued at $1,311,770. BIO-TECHNE Corp makes up approx 0.59% of Windsor Financial Group’s portfolio.

BIO-TECHNE Corp closed down -0.18 points or -0.16% at $112.47 with 1,02,099 shares getting traded on Thursday. Post opening the session at $113.02, the shares hit an intraday low of $111.9675 and an intraday high of $113.4 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, BIO-TECHNE Corp reported $1.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.89. The company had revenue of $130.97 million for the quarter, compared to analysts expectations of $122.71 million. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *