OFI Invest Asset Management bought a new stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 15,500 shares of the biotechnology company's stock, valued at approximately $1,078,000.
Several other hedge funds have also modified their holdings of TECH. Janney Montgomery Scott LLC raised its holdings in shares of Bio-Techne by 12.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 11,349 shares of the biotechnology company's stock valued at $907,000 after buying an additional 1,235 shares during the period. Principal Financial Group Inc. increased its holdings in Bio-Techne by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 261,900 shares of the biotechnology company's stock worth $20,934,000 after purchasing an additional 1,843 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Bio-Techne by 6.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,794 shares of the biotechnology company's stock worth $943,000 after purchasing an additional 717 shares during the last quarter. Montanaro Asset Management Ltd increased its holdings in Bio-Techne by 6.0% during the 3rd quarter. Montanaro Asset Management Ltd now owns 323,000 shares of the biotechnology company's stock worth $25,817,000 after purchasing an additional 18,200 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in Bio-Techne by 5.2% during the 3rd quarter. Jensen Investment Management Inc. now owns 54,760 shares of the biotechnology company's stock worth $4,377,000 after purchasing an additional 2,700 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy E. Herr sold 1,860 shares of the business's stock in a transaction on Friday, February 14th. The stock was 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 of the company's stock, valued at $130,336.96. This trade represents a 48.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.
NASDAQ:TECH opened at $64.37 on Monday. Bio-Techne Co. has a 12-month low of $58.98 and a 12-month high of $85.57. The firm has a market capitalization of $10.18 billion, a P/E ratio of 65.02, a P/E/G ratio of 2.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77. The business has a 50 day simple moving average of $70.61 and a 200 day simple moving average of $72.68.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Equities research analysts predict that Bio-Techne Co. will post 1.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. Bio-Techne's dividend payout ratio is currently 32.32%.
Several equities research analysts have issued reports on the company. KeyCorp lifted their price objective on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Baird R W downgraded Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird downgraded Bio-Techne from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Bio-Techne currently has a consensus rating of "Moderate Buy" and an average price target of $82.14.
Get Our Latest Research Report on 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.
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