Invesco Ltd. Buys 358,756 Shares of Bio-Techne Co. (NASDAQ:TECH)

Invesco Ltd. lifted its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,820,464 shares of the biotechnology company's stock after acquiring an additional 358,756 shares during the period. Invesco Ltd. owned 2.40% of Bio-Techne worth $275,188,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 168 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock valued at $48,000 after acquiring an additional 253 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Bio-Techne by 35.0% in the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 198 shares in the last quarter. Huntington National Bank increased its holdings in shares of Bio-Techne by 42.6% during the fourth quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company's stock valued at $78,000 after purchasing an additional 322 shares during the period. Finally, Kiely Wealth Advisory Group Inc. raised its stake in shares of Bio-Techne by 1,355.6% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 1,048 shares of the biotechnology company's stock valued at $81,000 after purchasing an additional 976 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

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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 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company's stock.

Bio-Techne Trading Down 0.7 %

Shares of Bio-Techne stock traded down $0.38 during trading on Wednesday, hitting $50.69. The stock had a trading volume of 284,882 shares, compared to its average volume of 1,184,078. The stock has a 50 day simple moving average of $60.39 and a 200 day simple moving average of $69.22. Bio-Techne Co. has a 1 year low of $46.44 and a 1 year 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 company has a market capitalization of $8.01 billion, a PE ratio of 51.20, a P/E/G ratio of 2.88 and a beta of 1.45.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results 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%. On average, research analysts expect 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. Shareholders of record on Monday, February 17th were paid a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.63%. Bio-Techne's dividend payout ratio is presently 24.24%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Baird R W cut shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their target price on Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. KeyCorp reissued a "sector weight" rating on shares of Bio-Techne in a research note on Wednesday, April 9th. 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. Finally, StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.25.

Bio-Techne 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.