Arrowstreet Capital Limited Partnership Takes Position in Bio-Techne Co. (NASDAQ:TECH)

Arrowstreet Capital Limited Partnership acquired a new stake in 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 acquired 54,700 shares of the biotechnology company's stock, valued at approximately $3,940,000.

A number of other institutional investors also recently modified their holdings of the stock. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Bio-Techne by 1.5% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company's stock valued at $778,000 after purchasing an additional 160 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock valued at $38,000 after buying an additional 168 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Bio-Techne by 1.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 11,967 shares of the biotechnology company's stock valued at $862,000 after acquiring an additional 173 shares during the period. Fifth Third Bancorp boosted its holdings in Bio-Techne by 2.3% in the fourth quarter. Fifth Third Bancorp now owns 8,394 shares of the biotechnology company's stock valued at $605,000 after acquiring an additional 189 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Bio-Techne by 35.0% in the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 198 shares during the period. 98.95% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several research analysts have recently issued reports on TECH shares. KeyCorp reaffirmed a "sector weight" rating on shares of Bio-Techne in a research note on Wednesday, April 9th. Royal Bank of Canada lifted their target price on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Robert W. Baird downgraded Bio-Techne from an "outperform" rating to a "neutral" rating and cut their price target for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Scotiabank lifted their price objective on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 6th. Finally, Baird R W lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.

Bio-Techne Stock Up 1.5 %

Shares of TECH traded up $0.76 on Monday, hitting $51.48. The company's stock had a trading volume of 62,209 shares, compared to its average volume of 1,178,609. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 52.05, a P/E/G ratio of 2.88 and a beta of 1.45. The firm's fifty day moving average price is $61.32 and its 200-day moving average price is $69.53. Bio-Techne Co. has a fifty-two week low of $46.44 and a fifty-two week high of $85.57.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 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 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.62%. Bio-Techne's dividend payout ratio is currently 24.24%.

Insider Buying and Selling

In other Bio-Techne news, 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 sale, the director now directly owns 1,976 shares in the company, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

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.