Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lessened its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 692,590 shares of the biotechnology company's stock after selling 61,737 shares during the period. Baird Financial Group Inc. owned approximately 0.44% of Bio-Techne worth $49,887,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of 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 purchasing an additional 168 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Bio-Techne in the fourth quarter valued at about $41,000. GeoWealth Management LLC acquired a new stake in shares of Bio-Techne during the 4th quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 253 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Bio-Techne by 35.0% in the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Insider Transactions at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Royal Bank of Canada boosted their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 6th. Evercore ISI began coverage on shares of Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 target price for the company. Citigroup reduced their price target on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, KeyCorp reissued a "sector weight" rating on shares of Bio-Techne in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $81.14.

Bio-Techne Stock Up 1.7 %

TECH stock opened at $50.49 on Monday. Bio-Techne Co. has a one year low of $46.01 and a one year high of $85.57. The company has a 50 day moving average price of $55.92 and a two-hundred day moving average price of $66.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94. The stock has a market capitalization of $7.98 billion, a P/E ratio of 51.00, a PEG ratio of 2.88 and a beta of 1.46.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts expect that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.63%. Bio-Techne's dividend payout ratio (DPR) 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.

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