Cerity Partners LLC Raises Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Cerity Partners LLC grew its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 831.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,205 shares of the biotechnology company's stock after purchasing an additional 41,244 shares during the period. Cerity Partners LLC's holdings in Bio-Techne were worth $3,565,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bio-Techne in the 3rd quarter valued at approximately $27,000. Harbour Investments Inc. raised its holdings in shares of Bio-Techne by 305.0% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company's stock worth $27,000 after buying an additional 244 shares during the period. Resurgent Financial Advisors LLC purchased a new stake in shares of Bio-Techne in the fourth quarter worth approximately $29,000. CVA Family Office LLC purchased a new stake in shares of Bio-Techne in the fourth quarter worth approximately $31,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Bio-Techne by 447.5% in the fourth quarter. Lazard Asset Management LLC now owns 553 shares of the biotechnology company's stock worth $45,000 after buying an additional 452 shares during the period. 98.95% of the stock is owned by institutional investors.

Bio-Techne Stock Down 0.8 %

NASDAQ TECH traded down $0.52 during midday trading on Thursday, hitting $62.21. 1,174,667 shares of the company traded hands, compared to its average volume of 1,071,694. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The company has a market cap of $9.78 billion, a PE ratio of 45.08, a price-to-earnings-growth ratio of 7.24 and a beta of 1.22. The company's 50-day simple moving average is $70.61 and its 200-day simple moving average is $68.65. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $89.91.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its earnings results 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 company had revenue of $272.60 million for 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 research analysts forecast that Bio-Techne Co. will post 1.53 earnings per share for the current year.

Bio-Techne Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TECH shares. Royal Bank of Canada reduced their price target on Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Scotiabank started coverage on Bio-Techne in a report on Thursday, February 8th. They issued a "sector outperform" rating and a $80.00 price target on the stock. Stifel Nicolaus downgraded Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on Bio-Techne from $85.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Stephens reduced their price objective on Bio-Techne from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.90.

Insider Buying and Selling at Bio-Techne

In other news, Director Roeland Nusse sold 10,400 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares of the company's stock, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.45% of the company's stock.

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.