Summit Creek Advisors Lowers stake in BIO-TECHNE Corp (TECH)

BIO-TECHNE Corp (TECH) : Summit Creek Advisors reduced its stake in BIO-TECHNE Corp by 28.99% during the most recent quarter end. The investment management company now holds a total of 166,344 shares of BIO-TECHNE Corp which is valued at $18,422,598 after selling 67,911 shares in BIO-TECHNE Corp , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.BIO-TECHNE Corp makes up approximately 2.99% of Summit Creek Advisors’s portfolio.

Other Hedge Funds, Including , Lasalle Street Capital Management added TECH to its portfolio by purchasing 2,111 company shares during the most recent quarter which is valued at $235,334. BIO-TECHNE Corp makes up approx 0.22% of Lasalle Street Capital Management’s portfolio.Leavell Investment Management reduced its stake in TECH by selling 2,500 shares or 12.53% in the most recent quarter. The Hedge Fund company now holds 17,451 shares of TECH which is valued at $1,945,437. BIO-TECHNE Corp makes up approx 0.28% of Leavell Investment Management’s portfolio.Independent Portfolio Consultants boosted its stake in TECH in the latest quarter, The investment management firm added 165 additional shares and now holds a total of 1,960 shares of BIO-TECHNE Corp which is valued at $218,814. BIO-TECHNE Corp makes up approx 0.07% of Independent Portfolio Consultants’s portfolio.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 opened for trading at $111 and hit $112.24 on the upside on Wednesday, eventually ending the session at $111.48, with a gain of 0.54% or 0.6 points. The heightened volatility saw the trading volume jump to 1,25,777 shares. Company has a market cap of $4,149 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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