BI Asset Management Fondsmaeglerselskab A S Has $19.80 Million Position in Bio-Techne Co. (NASDAQ:TECH)

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 6,283.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,821 shares of the biotechnology company's stock after acquiring an additional 270,516 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned about 0.17% of Bio-Techne worth $19,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. World Investment Advisors LLC increased its position in shares of Bio-Techne by 4.8% during the third quarter. World Investment Advisors LLC now owns 21,957 shares of the biotechnology company's stock worth $1,755,000 after acquiring an additional 1,000 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Bio-Techne by 55.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company's stock worth $372,000 after buying an additional 1,656 shares during the period. Tidal Investments LLC grew its holdings in shares of Bio-Techne by 17.7% during the third quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company's stock worth $2,313,000 after buying an additional 4,356 shares in the last quarter. Synovus Financial Corp raised its position in Bio-Techne by 1.5% in the 3rd quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company's stock valued at $1,057,000 after buying an additional 198 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in Bio-Techne in the 3rd quarter valued at approximately $1,188,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Performance

Shares of Bio-Techne stock traded up $0.62 on Thursday, hitting $50.78. The stock had a trading volume of 2,472,229 shares, compared to its average volume of 1,213,703. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 51.29, a price-to-earnings-growth ratio of 2.88 and a beta of 1.45. 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 twelve month low of $46.01 and a twelve month high of $85.57. The business's 50 day moving average is $58.02 and its two-hundred day moving average is $68.11.

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 net margin of 13.22% and a return on equity of 12.73%. Analysts forecast that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were issued 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 0.63%. Bio-Techne's dividend payout ratio is presently 32.32%.

Insider Activity

In other news, CEO Kim Kelderman sold 13,392 shares of the company'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 completion of the sale, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy E. Herr sold 1,860 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TECH has been the subject of several analyst reports. Evercore ISI initiated coverage on Bio-Techne in a report on Tuesday, March 18th. They issued an "outperform" rating and a $75.00 price objective for the company. Scotiabank boosted their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price objective on Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Robert W. Baird downgraded shares of Bio-Techne from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $88.00 to $68.00 in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $81.14.

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.