21,170 Shares in Bio-Techne Co. (NASDAQ:TECH) Bought by Postrock Partners LLC

Postrock Partners LLC purchased a new stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 21,170 shares of the biotechnology company's stock, valued at approximately $1,525,000. Bio-Techne makes up 0.7% of Postrock Partners LLC's holdings, making the stock its 29th biggest holding.

Several other institutional investors have also added to or reduced their stakes in TECH. Point72 Asset Management L.P. purchased a new position in Bio-Techne during the 3rd quarter valued at approximately $89,724,000. Raymond James Financial Inc. purchased a new position in Bio-Techne during the 4th quarter valued at approximately $44,479,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Bio-Techne by 21.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company's stock valued at $147,002,000 after buying an additional 354,478 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Bio-Techne during the 3rd quarter valued at approximately $20,071,000. Finally, Proficio Capital Partners LLC grew its holdings in Bio-Techne by 8,079.6% during the 4th quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company's stock valued at $17,469,000 after buying an additional 239,560 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Insiders Place Their Bets

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction on Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the completion of the transaction, the director now owns 1,976 shares in the company, valued at $130,336.96. This represents a 48.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup cut their price target on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Baird R W lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Evercore ISI began coverage on Bio-Techne in a research note on Tuesday. They issued an "outperform" rating and a $75.00 price objective for the company. Scotiabank raised their price objective on Bio-Techne from $88.00 to $90.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird lowered Bio-Techne from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.25.

Bio-Techne Trading Up 0.4 %

Shares of TECH stock traded up $0.25 on Tuesday, reaching $62.83. 1,242,709 shares of the company's stock were exchanged, compared to its average volume of 1,069,732. The company's fifty day simple moving average is $69.22 and its 200 day simple moving average is $72.21. The stock has a market capitalization of $9.93 billion, a PE ratio of 63.46, a P/E/G ratio of 2.88 and a beta of 1.30. Bio-Techne Co. has a 52 week low of $56.60 and a 52 week high of $85.57. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. As a group, analysts forecast that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.51%. Bio-Techne's payout ratio is currently 32.32%.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.