Cresset Asset Management LLC Sells 44,553 Shares of Bio-Techne Co. (NASDAQ:TECH)

Cresset Asset Management LLC reduced its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 19.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 189,956 shares of the biotechnology company's stock after selling 44,553 shares during the quarter. Cresset Asset Management LLC owned about 0.12% of Bio-Techne worth $13,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TECH. Vanguard Group Inc. raised its stake in shares of Bio-Techne by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,594,608 shares of the biotechnology company's stock worth $1,339,370,000 after buying an additional 275,644 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Bio-Techne by 13.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,654,267 shares of the biotechnology company's stock valued at $767,428,000 after acquiring an additional 1,229,954 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Bio-Techne by 7.2% in the 4th quarter. Ameriprise Financial Inc. now owns 4,702,942 shares of the biotechnology company's stock valued at $338,756,000 after purchasing an additional 317,349 shares during the period. Geode Capital Management LLC lifted its stake in shares of Bio-Techne by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,001,296 shares of the biotechnology company's stock valued at $287,488,000 after purchasing an additional 98,660 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Bio-Techne by 10.4% in the 4th quarter. Invesco Ltd. now owns 3,820,464 shares of the biotechnology company's stock worth $275,188,000 after purchasing an additional 358,756 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of the firm's stock in a transaction on Friday, February 14th. The shares were 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 owns 1,976 shares of the company's stock, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on TECH. Robert W. Baird lowered Bio-Techne from an "outperform" rating to a "neutral" rating and cut their target price for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. KeyCorp reiterated a "sector weight" rating on shares of Bio-Techne in a research report on Wednesday, April 9th. Baird R W cut shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. StockNews.com upgraded shares of Bio-Techne from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Finally, Royal Bank of Canada boosted their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Bio-Techne has an average rating of "Hold" and a consensus price target of $81.14.

Bio-Techne Stock Down 4.2 %

Shares of TECH stock opened at $47.72 on Wednesday. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 48.20, a P/E/G ratio of 2.88 and a beta of 1.46. Bio-Techne Co. has a 12-month low of $46.01 and a 12-month high of $85.57. The firm has a fifty day moving average of $55.37 and a 200-day moving average of $66.65. 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 - 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 the consensus estimate 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 research analysts predict that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

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.

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