SVB Wealth LLC Sells 25,151 Shares of Bio-Techne Co. (NASDAQ:TECH)

SVB Wealth LLC cut its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,653 shares of the biotechnology company's stock after selling 25,151 shares during the quarter. SVB Wealth LLC's holdings in Bio-Techne were worth $5,297,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Bio-Techne during the first quarter worth $56,000. Harbour Investments Inc. increased its stake in Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 244 shares during the period. Resurgent Financial Advisors LLC acquired a new position in Bio-Techne in the 4th quarter valued at approximately $29,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $27,000. Finally, CVA Family Office LLC acquired a new stake in shares of Bio-Techne during the 4th quarter worth approximately $31,000. Institutional investors own 98.95% of the company's stock.

Insider Buying and Selling at Bio-Techne

In other news, Director Roeland Nusse sold 10,400 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares of the company's stock, valued at $3,317,607.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TECH shares. Royal Bank of Canada reduced their target price on 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. 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 price target on shares of Bio-Techne from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Friday, February 2nd. Finally, Stifel Nicolaus downgraded Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.11.

Bio-Techne Price Performance

Shares of NASDAQ:TECH traded down $1.28 during trading on Wednesday, reaching $62.73. The stock had a trading volume of 902,986 shares, compared to its average volume of 1,070,304. The stock has a market capitalization of $9.86 billion, a PE ratio of 45.46, a P/E/G ratio of 7.41 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $89.91. The business's 50-day moving average price is $70.73 and its 200 day moving average price is $68.70.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $272.60 million during the quarter, compared to the consensus estimate of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, equities analysts predict that Bio-Techne Co. will post 1.53 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, February 9th. Bio-Techne's payout ratio is presently 23.19%.

Bio-Techne Company 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.