Spire Wealth Management Has $4.16 Million Holdings in Bio-Techne Co. (NASDAQ:TECH)

Spire Wealth Management lifted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 38,075.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,172 shares of the biotechnology company's stock after purchasing an additional 59,017 shares during the quarter. Spire Wealth Management's holdings in Bio-Techne were worth $4,161,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Bio-Techne by 4.5% during the 3rd quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company's stock worth $225,028,000 after acquiring an additional 143,716 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 300,903 shares in the last quarter. Mackenzie Financial Corp increased its position in Bio-Techne by 3.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company's stock worth $185,132,000 after purchasing an additional 70,294 shares in the last quarter. Invesco Ltd. raised its holdings in Bio-Techne by 14.8% in the third quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company's stock valued at $128,027,000 after buying an additional 241,771 shares during the period. Finally, Northern Trust Corp lifted its position in Bio-Techne by 2.4% during the third quarter. Northern Trust Corp now owns 1,627,073 shares of the biotechnology company's stock valued at $110,755,000 after buying an additional 38,223 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Price Performance

TECH stock traded up $1.40 during trading hours on Tuesday, hitting $77.46. 1,007,594 shares of the stock traded hands, compared to its average volume of 1,115,595. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The stock has a 50-day simple moving average of $69.84 and a 200 day simple moving average of $68.66. The company has a market cap of $12.18 billion, a P/E ratio of 60.37, a P/E/G ratio of 9.08 and a beta of 1.23. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business had revenue of $303.43 million for the quarter, compared to the consensus estimate of $292.36 million. During the same period last year, the firm posted $0.47 earnings per share. The firm's quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Bio-Techne Co. will post 1.52 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be given a $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Bio-Techne's dividend payout ratio (DPR) is presently 25.40%.

Insider Activity

In related news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction dated 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 directly owns 43,097 shares of the company's stock, valued at approximately $3,317,607.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TECH has been the topic of several recent research reports. Scotiabank started coverage on shares of Bio-Techne in a report on Thursday, February 8th. They set a "sector outperform" rating and a $80.00 target price on the stock. Robert W. Baird lifted their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an "outperform" rating in a research note on Thursday, May 2nd. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating for the company in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on Bio-Techne from $85.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, April 18th. Finally, 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 report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.50.

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.