Wellington Management Group LLP Has $103.67 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Wellington Management Group LLP reduced its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,439,313 shares of the biotechnology company's stock after selling 93,276 shares during the quarter. Wellington Management Group LLP owned approximately 0.91% of Bio-Techne worth $103,674,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TECH. UMB Bank n.a. increased 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 in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in 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 last quarter. Versant Capital Management Inc increased its holdings in shares of Bio-Techne by 35.0% during the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after buying an additional 198 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Bio-Techne by 45.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,376 shares of the biotechnology company's stock valued at $99,000 after acquiring an additional 429 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Bio-Techne by 59.4% in the fourth quarter. Jones Financial Companies Lllp now owns 2,096 shares of the biotechnology company's stock valued at $151,000 after acquiring an additional 781 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

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Bio-Techne Trading Down 0.4 %

NASDAQ:TECH traded down $0.22 on Tuesday, hitting $52.09. 496,650 shares of the stock were exchanged, compared to its average volume of 1,140,750. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 52.70, a P/E/G ratio of 2.88 and a beta of 1.45. 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 Co. has a 52 week low of $48.91 and a 52 week high of $85.57. The company's 50-day moving average price is $63.95 and its 200 day moving average price is $70.58.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share 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%. On average, equities research analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. Bio-Techne's dividend payout ratio is currently 32.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price target on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Evercore ISI started coverage on Bio-Techne in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $75.00 target price for the company. Scotiabank upped their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 6th. Robert W. Baird cut shares of Bio-Techne from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. Finally, KeyCorp upped their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.25.

Insider Buying and Selling

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the 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 sale, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amy E. Herr sold 1,860 shares of the business's 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 completion of the transaction, the director now directly owns 1,976 shares of the company's stock, valued at $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 insiders.

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.