Envestnet Asset Management Inc. Has $25.15 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Envestnet Asset Management Inc. lowered its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 349,130 shares of the biotechnology company's stock after selling 44,093 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Bio-Techne worth $25,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp raised its position in Bio-Techne by 10.0% in the 3rd quarter. Stifel Financial Corp now owns 41,103 shares of the biotechnology company's stock worth $3,285,000 after purchasing an additional 3,731 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Bio-Techne by 7.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,808 shares of the biotechnology company's stock valued at $384,000 after acquiring an additional 336 shares during the last quarter. World Investment Advisors LLC increased its position in Bio-Techne by 4.8% in the third quarter. World Investment Advisors LLC now owns 21,957 shares of the biotechnology company's stock worth $1,755,000 after purchasing an additional 1,000 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Bio-Techne by 55.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company's stock worth $372,000 after purchasing an additional 1,656 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Bio-Techne by 17.7% during the 3rd quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company's stock valued at $2,313,000 after purchasing an additional 4,356 shares during the period. Institutional investors and hedge funds own 98.95% of the company's stock.

Insiders Place Their Bets

In other news, Director Amy E. Herr sold 1,860 shares of the 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 completion of the transaction, the director now directly owns 1,976 shares in the company, valued at $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 $3,014,619.16. The trade was a 25.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Bio-Techne Stock Down 3.4 %

TECH stock traded down $1.71 during mid-day trading on Thursday, hitting $48.27. 1,780,050 shares of the company were exchanged, compared to its average volume of 1,190,611. The firm has a market cap of $7.63 billion, a P/E ratio of 48.73, a P/E/G ratio of 2.88 and a beta of 1.45. Bio-Techne Co. has a 1-year low of $46.44 and a 1-year high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94. The firm's 50 day simple moving average is $59.93 and its 200 day simple moving average is $69.08.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS 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, sell-side analysts predict that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, February 14th. Bio-Techne's payout ratio is 32.32%.

Wall Street Analyst Weigh In

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

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.