APG Asset Management N.V. Acquires Shares of 93,151 Bio-Techne Co. (NASDAQ:TECH)

APG Asset Management N.V. acquired a new stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 93,151 shares of the biotechnology company's stock, valued at approximately $6,480,000. APG Asset Management N.V. owned 0.06% of Bio-Techne as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in TECH. UMB Bank n.a. increased its position in shares of Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 168 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Bio-Techne by 35.0% in the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after buying an additional 198 shares during the period. Huntington National Bank grew its position in shares of Bio-Techne by 42.6% in the 4th quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company's stock worth $78,000 after buying an additional 322 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. increased its stake in shares of Bio-Techne by 1,355.6% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 1,048 shares of the biotechnology company's stock valued at $81,000 after buying an additional 976 shares during the period. Institutional investors own 98.95% of the company's stock.

Remove Ads

Bio-Techne Stock Down 2.8 %

NASDAQ:TECH traded down $1.46 during trading hours on Tuesday, reaching $51.07. 1,295,257 shares of the company traded hands, compared to its average volume of 1,187,617. Bio-Techne Co. has a 1 year low of $46.44 and a 1 year high of $85.57. The stock has a market capitalization of $8.07 billion, a P/E ratio of 51.59, a P/E/G ratio of 2.88 and a beta of 1.45. The business's 50-day moving average price is $60.39 and its two-hundred day moving average price is $69.22. 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 announced 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 net margin of 13.22% and a return on equity of 12.73%. Analysts predict that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. Bio-Techne's payout ratio is currently 24.24%.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $65.96, for a total transaction of $122,685.60. Following the transaction, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,035,067.68. Following the completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % 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 insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup cut their price target on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Royal Bank of Canada boosted their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Scotiabank raised their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. KeyCorp reiterated a "sector weight" rating on shares of Bio-Techne in a report on Wednesday, April 9th. Finally, Robert W. Baird cut Bio-Techne from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Bio-Techne has an average rating of "Moderate Buy" and an average price target of $81.25.

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.