Handelsbanken Fonder AB raised its position in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 1,116.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 403,148 shares of the biotechnology company's stock after acquiring an additional 370,000 shares during the period. Handelsbanken Fonder AB owned approximately 0.25% of Bio-Techne worth $31,107,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bio-Techne in the third quarter worth about $27,000. CVA Family Office LLC purchased a new stake in shares of Bio-Techne in the 4th quarter valued at $31,000. Federated Hermes Inc. acquired a new stake in shares of Bio-Techne in the third quarter worth $47,000. Clear Street Markets LLC raised its holdings in shares of Bio-Techne by 255.8% during the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company's stock worth $50,000 after purchasing an additional 527 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in Bio-Techne by 23.8% during the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 177 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction dated Thursday, March 7th. The shares were 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 in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Stephens reduced their price objective on Bio-Techne from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday. Scotiabank initiated 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 for the company. Royal Bank of Canada dropped their price target on shares of Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 2nd. Finally, Stifel Nicolaus downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a research report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.90.
View Our Latest Stock Report on Bio-Techne
Bio-Techne Price Performance
TECH stock traded up $0.68 during trading on Monday, hitting $62.80. The stock had a trading volume of 829,427 shares, compared to its average volume of 1,066,442. The company's 50-day moving average price is $70.35 and its two-hundred day moving average price is $68.61. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The stock has a market capitalization of $9.87 billion, a P/E ratio of 45.51, a PEG ratio of 7.73 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 (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $272.60 million for 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%. As a group, research analysts predict that Bio-Techne Co. will post 1.52 EPS for the current fiscal year.
Bio-Techne Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, February 9th. 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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