Thrivent Financial for Lutherans Has $11.97 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Thrivent Financial for Lutherans lessened its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 165,838 shares of the biotechnology company's stock after selling 5,510 shares during the period. Thrivent Financial for Lutherans owned about 0.10% of Bio-Techne worth $11,967,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cibc World Markets Corp lifted its holdings in shares of Bio-Techne by 17.0% during the fourth quarter. Cibc World Markets Corp now owns 25,032 shares of the biotechnology company's stock valued at $1,803,000 after purchasing an additional 3,631 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Bio-Techne by 1.8% during the fourth quarter. Royce & Associates LP now owns 860,751 shares of the biotechnology company's stock valued at $62,000,000 after acquiring an additional 15,353 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Bio-Techne by 317.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 136,243 shares of the biotechnology company's stock valued at $9,814,000 after acquiring an additional 103,627 shares in the last quarter. Natixis Advisors LLC boosted its stake in Bio-Techne by 7.4% in the 4th quarter. Natixis Advisors LLC now owns 169,681 shares of the biotechnology company's stock worth $12,222,000 after purchasing an additional 11,625 shares during the period. Finally, Van Strum & Towne Inc. lifted its stake in Bio-Techne by 20.0% in the 4th quarter. Van Strum & Towne Inc. now owns 4,800 shares of the biotechnology company's stock worth $346,000 after acquiring an additional 800 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

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Insider Activity

In other news, Director Amy E. Herr sold 1,860 shares of the firm's 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 completion of the sale, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction 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 $3,014,619.16. The trade was a 25.56 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Bio-Techne Stock Down 1.8 %

TECH traded down $1.09 during trading on Tuesday, hitting $59.98. The company had a trading volume of 1,454,467 shares, compared to its average volume of 1,077,592. The firm's 50-day moving average price is $67.54 and its 200 day moving average price is $71.73. The company has a market capitalization of $9.48 billion, a PE ratio of 60.59, a PEG ratio of 2.88 and a beta of 1.30. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a one year low of $56.60 and a one year high of $85.57.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 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%. As a group, equities analysts expect that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TECH shares. Evercore ISI began coverage on Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 target price on the stock. 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. Robert W. Baird cut Bio-Techne from an "outperform" rating to a "neutral" rating and cut their price target for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Finally, KeyCorp upped their price target on Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.