New York State Teachers Retirement System trimmed its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,688 shares of the biotechnology company's stock after selling 14,846 shares during the period. New York State Teachers Retirement System owned about 0.10% of Bio-Techne worth $12,399,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in TECH. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bio-Techne during the 3rd quarter valued at about $27,000. Harbour Investments Inc. grew its stake in Bio-Techne by 305.0% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company's stock worth $27,000 after acquiring an additional 244 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in Bio-Techne in the 4th quarter worth about $29,000. CVA Family Office LLC bought a new position in Bio-Techne in the 4th quarter worth about $31,000. Finally, Lazard Asset Management LLC grew its stake in Bio-Techne by 447.5% in the 4th quarter. Lazard Asset Management LLC now owns 553 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 452 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on TECH. Scotiabank began coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They issued a "sector outperform" rating and a $80.00 target price on the stock. Stephens dropped their target price on shares of Bio-Techne from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada lowered their price target on shares of Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 2nd. Finally, Stifel Nicolaus cut shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Bio-Techne has a consensus rating of "Moderate Buy" and an average target price of $84.11.
View Our Latest Research Report on Bio-Techne
Insiders Place Their Bets
In other news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company's stock.
Bio-Techne Stock Down 2.4 %
NASDAQ:TECH traded down $1.72 during midday trading on Wednesday, reaching $69.51. 843,726 shares of the stock traded hands, compared to its average volume of 1,074,544. The business has a 50-day moving average of $70.87 and a two-hundred day moving average of $68.78. The stock has a market capitalization of $10.93 billion, a PE ratio of 50.37, a price-to-earnings-growth ratio of 7.71 and a beta of 1.22. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37.
Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $272.60 million during the quarter, compared to analysts' expectations of $277.48 million. Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. On average, equities analysts forecast that Bio-Techne Co. will post 1.53 earnings per share for the current fiscal year.
Bio-Techne Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were issued a $0.08 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. Bio-Techne's dividend payout ratio is currently 23.19%.
About Bio-Techne
(
Free Report)
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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