Vanguard Group Inc. Buys 275,644 Shares of Bio-Techne Co. (NASDAQ:TECH)

Vanguard Group Inc. grew its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,594,608 shares of the biotechnology company's stock after buying an additional 275,644 shares during the period. Vanguard Group Inc. owned 11.70% of Bio-Techne worth $1,339,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in Bio-Techne in the third quarter valued at approximately $89,724,000. Raymond James Financial Inc. bought a new stake in shares of Bio-Techne in the 4th quarter valued at $44,479,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Bio-Techne by 21.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company's stock worth $147,002,000 after buying an additional 354,478 shares during the period. Point72 DIFC Ltd bought a new position in Bio-Techne during the third quarter worth $20,071,000. Finally, Proficio Capital Partners LLC lifted its holdings in Bio-Techne by 8,079.6% in the fourth quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company's stock valued at $17,469,000 after buying an additional 239,560 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bio-Techne

In other 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 value of $122,685.60. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the 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 $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. Company insiders own 3.90% of the company's stock.

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Wall Street Analyst Weigh In

TECH has been the topic of several research analyst reports. Baird R W lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Evercore ISI assumed coverage on Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target on the stock. KeyCorp lifted their price objective 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. Royal Bank of Canada increased their target price on shares of 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, Scotiabank lifted their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Bio-Techne Stock Down 2.2 %

Shares of NASDAQ TECH traded down $1.28 during mid-day trading on Tuesday, reaching $57.35. 1,675,869 shares of the company's stock traded hands, compared to its average volume of 1,116,245. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77. Bio-Techne Co. has a 1-year low of $56.60 and a 1-year high of $85.57. The stock has a market cap of $9.07 billion, a P/E ratio of 57.93, a PEG ratio of 2.88 and a beta of 1.30. The business has a 50-day simple moving average of $65.79 and a 200 day simple moving average of $71.21.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly 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%. On average, analysts expect 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. Investors of record on Monday, February 17th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, February 14th. Bio-Techne's payout ratio is currently 32.32%.

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.