Corient Private Wealth LLC Has $48.90 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Corient Private Wealth LLC increased its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 4,482.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 633,790 shares of the biotechnology company's stock after purchasing an additional 619,958 shares during the period. Corient Private Wealth LLC owned 0.40% of Bio-Techne worth $48,903,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in shares of Bio-Techne in the 4th quarter valued at $31,000. First Horizon Advisors Inc. grew its holdings in shares of Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 191 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Bio-Techne during the fourth quarter worth about $44,000. Federated Hermes Inc. acquired a new stake in shares of Bio-Techne during the third quarter worth about $47,000. Finally, Clear Street Markets LLC lifted its holdings in shares of Bio-Techne by 255.8% in the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company's stock valued at $50,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Bio-Techne Price Performance

Shares of Bio-Techne stock traded up $0.30 during trading on Wednesday, reaching $82.98. The company's stock had a trading volume of 696,184 shares, compared to its average volume of 1,112,095. The business has a 50 day moving average price of $71.55 and a 200-day moving average price of $70.47. The company has a market capitalization of $13.08 billion, a P/E ratio of 65.86, a price-to-earnings-growth ratio of 9.91 and a beta of 1.23. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $303.43 million for the quarter, compared to analysts' expectations of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business's revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. As a group, sell-side analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, May 10th. Bio-Techne's dividend payout ratio (DPR) is 25.40%.

Wall Street Analyst Weigh In

Several research firms have commented on TECH. Citigroup lowered Bio-Techne from a "buy" rating to a "neutral" rating and set a $85.00 price target on the stock. in a research report on Wednesday. Stephens decreased their price target on shares of 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, April 18th. Benchmark reiterated a "buy" rating and set a $95.00 target price on shares of Bio-Techne in a research note on Thursday, May 2nd. Finally, Scotiabank started coverage on Bio-Techne in a research report on Thursday, February 8th. They issued a "sector outperform" rating and a $80.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Bio-Techne presently has an average rating of "Moderate Buy" and a consensus target price of $81.00.

Insider Buying and Selling

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 transaction, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.10% of the company's stock.

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.