Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 494,900 shares of the biotechnology company's stock after selling 11,500 shares during the period. Swiss National Bank owned 0.31% of Bio-Techne worth $38,186,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TECH. First Trust Direct Indexing L.P. grew its position in shares of Bio-Techne by 8.9% during the fourth quarter. First Trust Direct Indexing L.P. now owns 4,768 shares of the biotechnology company's stock worth $368,000 after purchasing an additional 388 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Bio-Techne by 2.8% during the 4th quarter. New York Life Investment Management LLC now owns 40,714 shares of the biotechnology company's stock valued at $3,141,000 after buying an additional 1,121 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Bio-Techne by 56.0% during the fourth quarter. Victory Capital Management Inc. now owns 48,936 shares of the biotechnology company's stock valued at $3,776,000 after buying an additional 17,576 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Bio-Techne by 65.0% during the fourth quarter. Russell Investments Group Ltd. now owns 212,227 shares of the biotechnology company's stock worth $16,400,000 after acquiring an additional 83,569 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in Bio-Techne by 4.3% in the 4th quarter. Truist Financial Corp now owns 20,944 shares of the biotechnology company's stock valued at $1,616,000 after acquiring an additional 867 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective 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. Robert W. Baird raised their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the company an "outperform" rating in a report on Thursday, May 2nd. Stephens decreased their price target on shares of Bio-Techne from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Friday, February 2nd. Benchmark restated a "buy" rating and issued a $95.00 target price on shares of Bio-Techne in a report on Thursday, May 2nd. Finally, Stifel Nicolaus downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 price target for the company. in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.50.

Bio-Techne Trading Down 0.5 %

TECH stock traded down $0.41 during mid-day trading on Wednesday, reaching $77.05. The company had a trading volume of 838,284 shares, compared to its average volume of 1,112,479. The firm has a 50 day moving average of $69.98 and a 200 day moving average of $68.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The company has a market capitalization of $12.11 billion, a PE ratio of 61.15, a price-to-earnings-growth ratio of 9.08 and a beta of 1.23.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company 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 business posted $0.47 EPS. Bio-Techne's quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts predict that Bio-Techne Co. will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 10th. Bio-Techne's dividend payout ratio (DPR) is 25.40%.

Insider Activity

In related news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now directly owns 43,097 shares of the company's stock, valued at $3,317,607.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.10% 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.