Royce Associates Lp Lowers stake in BIO-TECHNE Corp (TECH)

BIO-TECHNE Corp (TECH) : Royce Associates Lp reduced its stake in BIO-TECHNE Corp by 8.21% during the most recent quarter end. The investment management company now holds a total of 766,259 shares of BIO-TECHNE Corp which is valued at $85,529,830 after selling 68,500 shares in BIO-TECHNE Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.BIO-TECHNE Corp makes up approximately 0.53% of Royce Associates Lp’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust reduced its stake in TECH by selling 141 shares or 13.08% in the most recent quarter. The Hedge Fund company now holds 937 shares of TECH which is valued at $104,588. BIO-TECHNE Corp makes up approx 0.01% of Finemark National Bank Trust’s portfolio.Diam Ltd. boosted its stake in TECH in the latest quarter, The investment management firm added 3,144 additional shares and now holds a total of 27,542 shares of BIO-TECHNE Corp which is valued at $3,102,606. BIO-TECHNE Corp makes up approx 0.04% of Diam Ltd.’s portfolio.

BIO-TECHNE Corp opened for trading at $111.13 and hit $112.04 on the upside on Monday, eventually ending the session at $111.46, with a gain of 0.51% or 0.57 points. The heightened volatility saw the trading volume jump to 76,622 shares. Company has a market cap of $4,148 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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