Corient Private Wealth LLC Has $43.14 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Corient Private Wealth LLC trimmed its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 598,918 shares of the biotechnology company's stock after selling 38,188 shares during the period. Corient Private Wealth LLC owned about 0.38% of Bio-Techne worth $43,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. State Street Corp grew its position in shares of Bio-Techne by 1.5% in the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company's stock valued at $511,232,000 after purchasing an additional 95,133 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Bio-Techne by 21.0% in the fourth 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bio-Techne by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,465,690 shares of the biotechnology company's stock valued at $105,574,000 after buying an additional 51,687 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Bio-Techne during the third quarter worth $89,724,000. Finally, American Capital Management Inc. raised its holdings in shares of Bio-Techne by 2.5% during the third quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company's stock worth $89,073,000 after acquiring an additional 27,508 shares during the period. 98.95% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other news, Director Amy E. Herr sold 1,860 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the completion of the sale, the director now owns 1,976 shares in the company, valued at $130,336.96. The trade was a 48.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares of the company's stock, 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 currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TECH shares. Robert W. Baird lowered shares of Bio-Techne from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $88.00 to $68.00 in a research note on Wednesday, February 19th. Citigroup reduced their price objective on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. KeyCorp increased their price objective on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Baird R W cut Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Scotiabank upped 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. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Bio-Techne presently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Bio-Techne Stock Up 0.4 %

Shares of NASDAQ:TECH traded up $0.27 during trading on Friday, hitting $60.61. 2,581,174 shares of the company were exchanged, compared to its average volume of 1,076,672. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 61.22, a P/E/G ratio of 2.88 and a beta of 1.30. 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 Co. has a fifty-two week low of $56.60 and a fifty-two week high of $85.57. The firm has a fifty day moving average price of $68.40 and a two-hundred day moving average price of $71.97.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share 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%. As a group, research analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.53%. Bio-Techne's dividend payout ratio (DPR) is currently 32.32%.

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.