abrdn plc Boosts Holdings in Bio-Techne Co. (NASDAQ:TECH)

abrdn plc increased its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 70.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,313 shares of the biotechnology company's stock after purchasing an additional 26,901 shares during the period. abrdn plc's holdings in Bio-Techne were worth $5,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TECH. Bank of New York Mellon Corp increased its holdings in Bio-Techne by 13.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,476,552 shares of the biotechnology company's stock valued at $168,579,000 after acquiring an additional 300,903 shares during the last quarter. Invesco Ltd. increased its holdings in Bio-Techne by 14.8% in the 3rd quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company's stock valued at $128,027,000 after acquiring an additional 241,771 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Bio-Techne in the 3rd quarter valued at $15,499,000. Mackenzie Financial Corp increased its holdings in Bio-Techne by 9.4% in the 3rd quarter. Mackenzie Financial Corp now owns 2,329,033 shares of the biotechnology company's stock valued at $154,881,000 after acquiring an additional 200,032 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Bio-Techne by 14.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,309,295 shares of the biotechnology company's stock valued at $101,025,000 after acquiring an additional 170,100 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business's 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 directly owns 43,097 shares of the company's stock, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.45% of the stock is owned by corporate insiders.

Bio-Techne Trading Up 2.2 %

Shares of TECH stock traded up $1.40 during trading hours on Friday, reaching $64.06. 973,784 shares of the stock were exchanged, compared to its average volume of 917,625. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The company's 50-day moving average price is $69.82 and its 200-day moving average price is $68.47. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 46.42, a price-to-earnings-growth ratio of 7.97 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released 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 company had revenue of $272.60 million during the quarter, compared to analysts' expectations 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 anticipate that Bio-Techne Co. will post 1.52 earnings per share for the current year.

Bio-Techne Announces Dividend

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. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.32 annualized dividend and a yield of 0.50%. Bio-Techne's dividend payout ratio (DPR) is 23.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TECH shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bio-Techne from $85.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada reduced their target price on shares of Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Stifel Nicolaus downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 target price on the stock. in a report on Friday, February 2nd. Stephens reduced their target price on shares of Bio-Techne from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Friday, February 2nd. Finally, Scotiabank started coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a "sector outperform" rating and a $80.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.90.

About Bio-Techne

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.