Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC reduced its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,517 shares of the biotechnology company's stock after selling 11,298 shares during the quarter. Bio-Techne comprises about 2.0% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 11th biggest position. Cramer Rosenthal Mcglynn LLC owned 0.31% of Bio-Techne worth $34,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TECH. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bio-Techne by 46.6% during 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. grew its stake in Bio-Techne by 58.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company's stock valued at $3,119,000 after purchasing an additional 16,038 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Bio-Techne during the third quarter valued at about $1,188,000. Fort Washington Investment Advisors Inc. OH grew its position in shares of Bio-Techne by 11.2% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 254,034 shares of the biotechnology company's stock worth $18,298,000 after buying an additional 25,650 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Bio-Techne during the fourth quarter valued at approximately $3,940,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Trading Up 3.8 %

Shares of TECH traded up $1.88 during trading on Wednesday, reaching $50.96. 772,307 shares of the company traded hands, compared to its average volume of 1,205,081. Bio-Techne Co. has a twelve month low of $46.01 and a twelve month high of $85.57. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $58.34 and a 200-day simple moving average of $68.23. The stock has a market cap of $8.06 billion, a PE ratio of 51.47, a price-to-earnings-growth ratio of 2.88 and a beta of 1.45.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly 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 return on equity of 12.73% and a net margin of 13.22%. On average, analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. Bio-Techne's dividend payout ratio (DPR) is presently 32.32%.

Insider Transactions at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the completion of the transaction, the director now directly owns 1,976 shares in the company, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the company's stock in a transaction dated Monday, January 27th. The stock was 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 owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents 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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TECH shares. Royal Bank of Canada boosted their target price on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Citigroup cut their target price on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Evercore ISI started coverage on Bio-Techne in a report on Tuesday, March 18th. They issued an "outperform" rating and a $75.00 price objective on the stock. Finally, Scotiabank lifted their target price on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $81.14.

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.