Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. boosted its holdings in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 28.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,728 shares of the biotechnology company's stock after purchasing an additional 8,533 shares during the quarter. Zions Bancorporation N.A.'s holdings in Bio-Techne were worth $2,790,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TECH. UMB Bank n.a. increased its holdings in Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 168 shares during the last quarter. Brooklyn Investment Group bought a new stake in Bio-Techne in the 3rd quarter worth approximately $39,000. Quest Partners LLC bought a new position in shares of Bio-Techne during the 3rd quarter valued at 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 purchasing an additional 253 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in 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 last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bio-Techne

In other news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 3.90% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have commented on TECH shares. KeyCorp lifted their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Citigroup decreased their price target on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Royal Bank of Canada boosted their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Scotiabank raised their target price on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. Finally, Evercore ISI began coverage on shares of Bio-Techne in a research note on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.25.

Bio-Techne Stock Down 2.0 %

Shares of TECH stock traded down $1.22 on Friday, hitting $58.73. The stock had a trading volume of 1,505,061 shares, compared to its average volume of 1,111,228. 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. The business has a 50 day moving average price of $66.56 and a 200 day moving average price of $71.45. The company has a market cap of $9.28 billion, a PE ratio of 59.32, a P/E/G ratio of 2.88 and a beta of 1.30.

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 return on equity of 12.73% and a net margin of 13.22%. Research analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share 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 issued a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. Bio-Techne's dividend payout ratio is presently 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.