Royce & Associates LP Purchases 15,353 Shares of Bio-Techne Co. (NASDAQ:TECH)

Royce & Associates LP raised its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 860,751 shares of the biotechnology company's stock after purchasing an additional 15,353 shares during the quarter. Bio-Techne accounts for about 0.6% of Royce & Associates LP's portfolio, making the stock its 28th biggest position. Royce & Associates LP owned approximately 0.54% of Bio-Techne worth $62,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in Bio-Techne during the third quarter worth about $39,000. UMB Bank n.a. lifted its position 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 in the last quarter. Quest Partners LLC purchased a new position in shares of Bio-Techne in the 3rd quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 acquiring an additional 253 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Bio-Techne by 38.5% during the third quarter. Huntington National Bank now owns 756 shares of the biotechnology company's stock valued at $60,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

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Insider Transactions at Bio-Techne

In other Bio-Techne news, 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 transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. This represents a 25.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 trade represents a 48.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TECH shares. Evercore ISI began coverage on Bio-Techne in a research note on Tuesday. They issued an "outperform" rating and a $75.00 price objective for the company. Citigroup reduced their price target on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a research report on Tuesday. KeyCorp boosted their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird lowered shares of Bio-Techne from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $88.00 to $68.00 in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and six have issued 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 Stock Performance

Bio-Techne stock traded down $0.55 during mid-day trading on Thursday, reaching $60.34. The company's stock had a trading volume of 992,796 shares, compared to its average volume of 1,071,198. The company has a market capitalization of $9.54 billion, a P/E ratio of 60.95, a PEG ratio of 2.88 and a beta of 1.30. The firm's fifty day moving average price is $68.70 and its two-hundred day moving average price is $72.06. Bio-Techne Co. has a 12-month low of $56.60 and a 12-month 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.

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 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 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, February 14th. Bio-Techne's dividend payout ratio is presently 32.32%.

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.