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Pembroke Management LTD Cuts Holdings in Bio-Techne Co. (NASDAQ:TECH)

Bio-Techne logo with Medical background

Pembroke Management LTD lessened its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 260,042 shares of the biotechnology company's stock after selling 54,658 shares during the quarter. Bio-Techne makes up 2.4% of Pembroke Management LTD's investment portfolio, making the stock its 18th largest holding. Pembroke Management LTD owned approximately 0.16% of Bio-Techne worth $18,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Bio-Techne during the 3rd quarter worth about $39,000. UMB Bank n.a. increased its holdings in 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 purchasing an additional 168 shares during the period. Quest Partners LLC purchased a new stake in Bio-Techne during the 3rd quarter worth about $43,000. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $48,000 after purchasing an additional 253 shares during the period. Finally, Sentry Investment Management LLC purchased a new stake in Bio-Techne during the 3rd quarter worth about $59,000. Hedge funds and other institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH traded down $0.57 during trading hours on Friday, reaching $64.92. The stock had a trading volume of 1,973,157 shares, compared to its average volume of 1,342,740. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 65.58, a PEG ratio of 2.89 and a beta of 1.27. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14. 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 50-day moving average of $72.70 and a 200-day moving average of $73.43.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) 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%. Equities research analysts predict that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be given a $0.08 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. Bio-Techne's dividend payout ratio (DPR) is presently 32.32%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TECH. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Robert W. Baird downgraded Bio-Techne from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $88.00 to $68.00 in a report on Wednesday. Scotiabank upped their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. Royal Bank of Canada upped their price objective 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. Finally, KeyCorp upped their price objective on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Bio-Techne has an average rating of "Moderate Buy" and a consensus price target of $84.29.

Read Our Latest Analysis on TECH

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 1,976 shares of the company's stock, valued at $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kim Kelderman sold 13,392 shares of the company'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 value of $1,035,067.68. Following the sale, the chief executive officer now directly owns 39,004 shares of the company's stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Bio-Techne Company Profile

(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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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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