12,202 Shares in Bio-Techne Co. (NASDAQ:TECH) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,202 shares of the biotechnology company's stock, valued at approximately $879,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Bio-Techne in the 4th quarter worth $137,301,000. Raymond James Financial Inc. purchased a new position in shares of Bio-Techne in the fourth quarter worth about $44,479,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Bio-Techne by 21.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company's stock valued at $147,002,000 after acquiring an additional 354,478 shares during the last quarter. Weitz Investment Management Inc. boosted its holdings in Bio-Techne by 707.7% during the 4th quarter. Weitz Investment Management Inc. now owns 381,250 shares of the biotechnology company's stock valued at $27,461,000 after acquiring an additional 334,050 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Bio-Techne by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,594,608 shares of the biotechnology company's stock valued at $1,339,370,000 after purchasing an additional 275,644 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bio-Techne

In other news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred 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 sale, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy E. Herr sold 1,860 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the transaction, the director now owns 1,976 shares of the company's stock, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TECH shares. Citigroup reduced their price target on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Robert W. Baird cut shares of Bio-Techne from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. KeyCorp reissued a "sector weight" rating on shares of Bio-Techne in a research note on Wednesday. Finally, Scotiabank boosted their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.25.

Bio-Techne Stock Performance

TECH traded down $0.23 during trading on Friday, hitting $49.03. The company's stock had a trading volume of 790,050 shares, compared to its average volume of 1,171,493. Bio-Techne Co. has a one year low of $46.44 and a one year high of $85.57. The business's 50 day simple moving average is $61.76 and its 200-day simple moving average is $69.75. 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 firm has a market cap of $7.75 billion, a PE ratio of 49.41, a P/E/G ratio of 2.88 and a beta of 1.45.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share 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, sell-side analysts predict that Bio-Techne Co. will post 1.67 EPS for the current fiscal 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 $0.08 dividend. 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 0.65%. Bio-Techne's payout ratio is presently 32.32%.

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.