Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,483 shares of the biotechnology company's stock after selling 47,246 shares during the period. Cerity Partners LLC owned 0.07% of Bio-Techne worth $8,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TECH. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bio-Techne by 46.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company's stock worth $1,215,000 after buying an additional 5,295 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Bio-Techne by 58.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company's stock worth $3,119,000 after acquiring an additional 16,038 shares during the period. Oddo BHF Asset Management Sas purchased a new position in Bio-Techne in the 3rd quarter worth approximately $1,188,000. Fort Washington Investment Advisors Inc. OH grew its position in Bio-Techne by 11.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 254,034 shares of the biotechnology company's stock valued at $18,298,000 after acquiring an additional 25,650 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Bio-Techne by 12.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 736,340 shares of the biotechnology company's stock valued at $52,641,000 after purchasing an additional 79,629 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

TECH has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. KeyCorp reaffirmed a "sector weight" rating on shares of Bio-Techne in a research report on Wednesday, April 9th. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Robert W. Baird lowered Bio-Techne from an "outperform" rating to a "neutral" rating and cut their target price for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. Finally, Baird R W lowered shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Bio-Techne Stock Performance

TECH stock traded down $0.38 during trading on Wednesday, hitting $50.69. 284,882 shares of the company's stock traded hands, compared to its average volume of 1,184,078. The stock has a fifty day moving average price of $60.39 and a two-hundred day moving average price of $69.22. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 52 week low of $46.44 and a 52 week high of $85.57. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 51.20, a price-to-earnings-growth ratio of 2.88 and a beta of 1.45.

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 (EPS) 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, equities analysts anticipate that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. Bio-Techne's payout ratio is currently 24.24%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy E. Herr sold 1,860 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company 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.