Bio-Techne Co. (NASDAQ:TECH) Director Amy E. Herr Sells 1,860 Shares

Bio-Techne Co. (NASDAQ:TECH - Get Free Report) Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the sale, the director now owns 1,976 shares of the company's stock, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Bio-Techne Price Performance

Shares of NASDAQ:TECH traded down $0.57 on Friday, reaching $64.92. 1,973,017 shares of the company traded hands, compared to its average volume of 1,341,897. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The company's 50 day moving average is $72.91 and its 200-day moving average is $73.52. The stock has a market capitalization of $10.26 billion, a PE ratio of 65.58, a P/E/G ratio of 2.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its 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 net margin of 13.22% and a return on equity of 12.73%. As a group, analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, February 14th. Bio-Techne's dividend payout ratio (DPR) is presently 32.32%.

Wall Street Analyst Weigh In

TECH has been the topic of several research analyst reports. KeyCorp lifted their price objective on Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Scotiabank lifted their price objective on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" 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 decreased their price objective for the stock from $88.00 to $68.00 in a report on Wednesday. Royal Bank of Canada upped their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Finally, Baird R W lowered shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.29.

Hedge Funds Weigh In On Bio-Techne

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in shares of Bio-Techne in the third quarter worth $39,000. UMB Bank n.a. grew 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 purchasing an additional 168 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Bio-Techne in the third quarter valued at about $43,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne in the fourth quarter valued at about $41,000. Finally, GeoWealth Management LLC acquired a new stake in shares of Bio-Techne in the fourth quarter valued at about $43,000. 98.95% of the stock is owned by institutional investors and hedge funds.

About Bio-Techne

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.