Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 317.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 136,243 shares of the biotechnology company's stock after purchasing an additional 103,627 shares during the quarter. Envestnet Portfolio Solutions Inc. owned 0.09% of Bio-Techne worth $9,814,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. UMB Bank n.a. boosted its position in shares of Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 168 shares during the period. Brooklyn Investment Group acquired a new position in Bio-Techne during the third quarter worth $39,000. Quest Partners LLC purchased a new position in shares of Bio-Techne during the third quarter worth $43,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Bio-Techne by 60.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock worth $48,000 after buying an additional 253 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Bio-Techne by 35.0% in the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock valued at $55,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Citigroup dropped their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Baird R W lowered shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Evercore ISI initiated coverage on shares of Bio-Techne in a research report on Tuesday. They issued an "outperform" rating and a $75.00 price target for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Bio-Techne has a consensus rating of "Moderate Buy" and an average price target of $81.25.

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Bio-Techne Stock Up 0.4 %

Shares of NASDAQ:TECH traded up $0.27 during trading hours on Friday, reaching $60.61. The stock had a trading volume of 2,581,174 shares, compared to its average volume of 1,076,672. Bio-Techne Co. has a 1 year low of $56.60 and a 1 year high of $85.57. The firm's 50 day moving average is $68.40 and its 200-day moving average is $71.97. The stock has a market capitalization 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 debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Research analysts predict 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. Stockholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, February 14th. Bio-Techne's dividend payout ratio (DPR) is presently 32.32%.

Insider Buying and Selling

In related 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 transaction of $122,685.60. Following the sale, the director now directly owns 1,976 shares in the company, valued at $130,336.96. This trade represents a 48.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now directly owns 39,004 shares of the company's stock, valued at approximately $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 company 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.