Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its position in Bio-Techne Co. (NASDAQ:TECH) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,333 shares of the biotechnology company’s stock after selling 12,332 shares during the period. Tredje AP fonden’s holdings in Bio-Techne were worth $888,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TECH. Brooklyn Investment Group acquired a new position in Bio-Techne during the third quarter valued at approximately $39,000. UMB Bank n.a. lifted its holdings 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 valued at $38,000 after acquiring an additional 168 shares in the last quarter. Quest Partners LLC acquired a new stake in Bio-Techne in the 3rd quarter valued at $43,000. MassMutual Private Wealth & Trust FSB raised its position in 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 during the period. Finally, Huntington National Bank lifted its stake 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 worth $60,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on TECH. StockNews.com downgraded Bio-Techne from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Citigroup reduced their target price on shares of Bio-Techne from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Scotiabank lifted their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 6th. KeyCorp upped their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their target price 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $82.14.

Bio-Techne Stock Up 3.8 %

Shares of Bio-Techne stock opened at $62.16 on Friday. The business has a 50-day moving average price of $69.45 and a 200 day moving average price of $72.29. Bio-Techne Co. has a fifty-two week low of $56.60 and a fifty-two week high of $85.57. The firm has a market cap of $9.83 billion, a P/E ratio of 62.79, a P/E/G 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 (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) 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%. On average, sell-side analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm 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. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, February 14th. Bio-Techne’s dividend payout ratio (DPR) is presently 32.32%.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of Bio-Techne 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 in the company, valued at $130,336.96. The trade was a 48.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 39,004 shares in the company, 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. Insiders own 3.90% of the company’s stock.

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.