Amundi Boosts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Amundi grew its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 72.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 277,925 shares of the biotechnology company's stock after purchasing an additional 116,331 shares during the quarter. Amundi owned approximately 0.17% of Bio-Techne worth $20,897,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in shares of Bio-Techne during the 3rd quarter worth $89,724,000. Raymond James Financial Inc. purchased a new stake in shares of Bio-Techne during the fourth quarter valued at about $44,479,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Bio-Techne by 21.0% in 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 bought a new stake in shares of Bio-Techne in the 3rd quarter valued at about $20,071,000. Finally, Proficio Capital Partners LLC grew its position in shares of Bio-Techne by 8,079.6% in the 4th quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company's stock worth $17,469,000 after buying an additional 239,560 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded up $0.42 during trading on Monday, hitting $62.58. The stock had a trading volume of 1,531,678 shares, compared to its average volume of 1,069,140. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 12-month low of $56.60 and a 12-month high of $85.57. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 63.21, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30. The stock has a 50-day simple moving average of $69.45 and a two-hundred day simple moving average of $72.30.

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Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, equities research analysts expect that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were given a dividend of $0.08 per share. 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 0.51%. Bio-Techne's dividend payout ratio is presently 32.32%.

Insider Buying and Selling at Bio-Techne

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

Analyst Ratings Changes

TECH has been the subject of several recent analyst reports. StockNews.com downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Baird R W cut Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Robert W. Baird lowered Bio-Techne from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. KeyCorp raised their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Scotiabank upped their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the company a "sector outperform" rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bio-Techne presently has a consensus rating of "Hold" and a consensus price target of $82.14.

Bio-Techne 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.