Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 46.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,650 shares of the biotechnology company's stock after purchasing an additional 5,295 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Bio-Techne were worth $1,215,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TECH. UMB Bank n.a. grew its holdings in Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group acquired a new position in Bio-Techne during the third quarter worth about $39,000. Quest Partners LLC acquired a new position in Bio-Techne during the third quarter worth about $43,000. MassMutual Private Wealth & Trust FSB grew its holdings in Bio-Techne by 60.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 253 shares during the period. Finally, Versant Capital Management Inc increased its stake in Bio-Techne by 35.0% in the 4th 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. 98.95% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by corporate insiders.
Bio-Techne Stock Down 1.2 %
NASDAQ TECH traded down $0.83 during trading on Friday, reaching $65.94. 1,172,566 shares of the company's stock were exchanged, compared to its average volume of 1,235,146. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The firm has a market capitalization of $10.48 billion, a PE ratio of 66.61, a P/E/G ratio of 5.54 and a beta of 1.27. The company has a current ratio of 3.94, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The company's fifty day simple moving average is $73.82 and its 200-day simple moving average is $73.90.
Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (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%. Sell-side analysts predict that Bio-Techne Co. will post 1.68 EPS for the current year.
Bio-Techne Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. Bio-Techne's dividend payout ratio is 32.32%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on TECH shares. KeyCorp lifted their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Scotiabank lifted their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird lifted their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.57.
View Our Latest Stock Report on Bio-Techne
About Bio-Techne
(
Free Report)
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.
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