Wells Fargo & Company MN Has $3.70 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Wells Fargo & Company MN decreased its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 40.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,397 shares of the biotechnology company's stock after selling 34,826 shares during the quarter. Wells Fargo & Company MN's holdings in Bio-Techne were worth $3,702,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. World Investment Advisors LLC increased its holdings in shares of Bio-Techne by 4.8% during the 3rd quarter. World Investment Advisors LLC now owns 21,957 shares of the biotechnology company's stock worth $1,755,000 after acquiring an additional 1,000 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Bio-Techne by 55.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company's stock worth $372,000 after acquiring an additional 1,656 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Bio-Techne by 17.7% during the 3rd quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company's stock worth $2,313,000 after acquiring an additional 4,356 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Bio-Techne by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company's stock worth $1,057,000 after acquiring an additional 198 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $1,188,000. Institutional investors and hedge funds own 98.95% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TECH shares. KeyCorp reissued a "sector weight" rating on shares of Bio-Techne in a report on Wednesday, April 9th. Scotiabank upped their price objective on Bio-Techne from $88.00 to $90.00 and gave the company a "sector outperform" rating in a report on Thursday, February 6th. Robert W. Baird downgraded Bio-Techne from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $88.00 to $68.00 in a report on Wednesday, February 19th. StockNews.com upgraded shares of Bio-Techne from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Finally, Citigroup dropped their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Bio-Techne has an average rating of "Hold" and a consensus target price of $81.14.

Insider Activity at Bio-Techne

In other news, Director Amy E. Herr sold 1,860 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is currently owned by insiders.

Bio-Techne Price Performance

Shares of NASDAQ:TECH traded up $0.01 during midday trading on Monday, hitting $50.25. The stock had a trading volume of 1,556,292 shares, compared to its average volume of 1,218,959. The company has a market capitalization of $7.94 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 2.88 and a beta of 1.45. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $57.11 and its 200-day moving average price is $67.55. Bio-Techne Co. has a fifty-two week low of $46.01 and a fifty-two week high of $85.57.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. As a group, equities research analysts predict that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, February 14th. Bio-Techne's dividend payout ratio (DPR) is presently 32.32%.

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.