Segall Bryant Hamill Lowers stake in BIO-TECHNE Corp (TECH)

BIO-TECHNE Corp (TECH) : Segall Bryant Hamill reduced its stake in BIO-TECHNE Corp by 6.14% during the most recent quarter end. The investment management company now holds a total of 712,358 shares of BIO-TECHNE Corp which is valued at $72.6 Million after selling 46,634 shares in BIO-TECHNE Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.BIO-TECHNE Corp makes up approximately 1.82% of Segall Bryant Hamill’s portfolio.

Other Hedge Funds, Including , Ridgeworth Capital Management sold out all of its stake in TECH during the most recent quarter. The investment firm sold 119 shares of TECH which is valued $12,126.Profund Advisors reduced its stake in TECH by selling 6,669 shares or 21.4% in the most recent quarter. The Hedge Fund company now holds 24,501 shares of TECH which is valued at $2.5 Million. BIO-TECHNE Corp makes up approx 0.13% of Profund Advisors’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in TECH by selling 360 shares or 0.75% in the most recent quarter. The Hedge Fund company now holds 47,934 shares of TECH which is valued at $4.8 Million. BIO-TECHNE Corp makes up approx 0.02% of State Board Of Administration Of Florida Retirement System’s portfolio.

BIO-TECHNE Corp opened for trading at $103.61 and hit $104.74 on the upside on Friday, eventually ending the session at $104.42, with a gain of 1.38% or 1.42 points. The heightened volatility saw the trading volume jump to 1,72,874 shares. Company has a market cap of $3,885,886 M.

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.

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