Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,333 shares of the biotechnology company's stock after selling 12,332 shares during the period. Tredje AP fonden's holdings in Bio-Techne were worth $888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TECH. Point72 Asset Management L.P. acquired a new position in Bio-Techne in the 3rd quarter valued at $89,724,000. Raymond James Financial Inc. acquired a new stake in shares of Bio-Techne in the fourth quarter valued at about $44,479,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of 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 worth $147,002,000 after buying an additional 354,478 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Bio-Techne during the third quarter worth about $20,071,000. Finally, Proficio Capital Partners LLC grew its stake in Bio-Techne by 8,079.6% during the 4th quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company's stock valued at $17,469,000 after acquiring an additional 239,560 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Evercore ISI began coverage on Bio-Techne in a report on Tuesday. They set an "outperform" rating and a $75.00 target price on the stock. Citigroup lowered 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. Royal Bank of Canada boosted their price target 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. Baird R W lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Robert W. Baird downgraded Bio-Techne from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of "Moderate Buy" and an average price target of $81.25.

Remove Ads

Insider Activity

In other news, 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 transaction of $122,685.60. Following the transaction, the director now directly 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 through this link. Also, CEO Kim Kelderman sold 13,392 shares of the firm's stock in a transaction dated 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 owns 39,004 shares of the company's stock, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company's stock.

Bio-Techne Stock Down 3.1 %

Shares of Bio-Techne stock traded down $1.94 during trading on Wednesday, hitting $60.89. 1,520,532 shares of the stock were exchanged, compared to its average volume of 1,071,518. The stock has a market cap of $9.63 billion, a price-to-earnings ratio of 61.51, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30. The firm's 50-day moving average price is $68.98 and its 200 day moving average price is $72.13. 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 Co. has a 12-month low of $56.60 and a 12-month high of $85.57.

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 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 forecast that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were given 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 32.32%.

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.