Mitsubishi UFJ Asset Management Co. Ltd. Has $18.59 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 251,865 shares of the biotechnology company's stock after acquiring an additional 24,816 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Bio-Techne worth $18,585,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in shares of Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after buying an additional 168 shares during the period. Quest Partners LLC bought a new stake in Bio-Techne during the third quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Bio-Techne by 60.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Versant Capital Management Inc increased 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 during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Bio-Techne by 45.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,376 shares of the biotechnology company's stock worth $99,000 after purchasing an additional 429 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

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Insider Activity at Bio-Techne

In other Bio-Techne 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 sale, the director now directly owns 1,976 shares in the company, valued at $130,336.96. This represents a 48.49 % decrease in their ownership of the stock. The sale 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 business's 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 completion of the transaction, the chief executive officer now owns 39,004 shares of the company's stock, valued at $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Bio-Techne Stock Down 7.6 %

Shares of NASDAQ:TECH traded down $4.19 during midday trading on Friday, reaching $50.67. 489,518 shares of the company were exchanged, compared to its average volume of 1,568,909. 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 $8.01 billion, a PE ratio of 51.18, a P/E/G ratio of 2.88 and a beta of 1.30. Bio-Techne Co. has a fifty-two week low of $50.75 and a fifty-two week high of $85.57. The stock has a fifty day simple moving average of $64.94 and a two-hundred day simple moving average of $71.01.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results 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 return on equity of 12.73% and a net margin of 13.22%. As a group, sell-side analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. KeyCorp upped their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Evercore ISI began coverage on shares of Bio-Techne in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $75.00 target price for the company. Citigroup decreased 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. Finally, StockNews.com cut Bio-Techne from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Bio-Techne has an average rating of "Moderate Buy" and a consensus price target of $81.25.

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.