Bio-Techne Co. (NASDAQ:TECH) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECHGet Rating) by 43.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,434 shares of the biotechnology company’s stock after purchasing an additional 3,751 shares during the period. MetLife Investment Management LLC’s holdings in Bio-Techne were worth $5,384,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. BOK Financial Private Wealth Inc. increased its holdings in shares of Bio-Techne by 3.4% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 893 shares of the biotechnology company’s stock valued at $462,000 after purchasing an additional 29 shares during the period. Ascent Group LLC increased its holdings in shares of Bio-Techne by 4.5% during the first quarter. Ascent Group LLC now owns 667 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 29 shares during the period. Financial Consulate Inc. increased its holdings in shares of Bio-Techne by 3.4% during the first quarter. Financial Consulate Inc. now owns 983 shares of the biotechnology company’s stock valued at $426,000 after purchasing an additional 32 shares during the period. CIBC Asset Management Inc grew its holdings in Bio-Techne by 1.0% during the first quarter. CIBC Asset Management Inc now owns 3,697 shares of the biotechnology company’s stock worth $1,601,000 after acquiring an additional 36 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Bio-Techne by 0.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 4,257 shares of the biotechnology company’s stock worth $2,202,000 after acquiring an additional 37 shares during the period. 94.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TECH shares. Stephens lowered their target price on Bio-Techne from $500.00 to $480.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Credit Suisse Group started coverage on Bio-Techne in a report on Wednesday, August 24th. They set an “outperform” rating and a $465.00 target price on the stock. Wells Fargo & Company lowered their target price on Bio-Techne from $370.00 to $360.00 and set an “underweight” rating on the stock in a report on Tuesday, August 16th. Robert W. Baird lowered their target price on Bio-Techne from $500.00 to $470.00 in a report on Friday, August 5th. Finally, StockNews.com lowered Bio-Techne from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $475.00.

Bio-Techne Trading Down 0.8 %

NASDAQ:TECH opened at $330.03 on Monday. The company has a quick ratio of 2.64, a current ratio of 3.44 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 1-year low of $318.07 and a 1-year high of $543.85. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 49.85, a price-to-earnings-growth ratio of 1.74 and a beta of 1.25. The stock has a fifty day simple moving average of $360.51 and a 200 day simple moving average of $381.85.

Bio-Techne (NASDAQ:TECHGet Rating) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $2.05 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.03). Bio-Techne had a net margin of 24.61% and a return on equity of 16.97%. The company had revenue of $288.30 million during the quarter, compared to analyst estimates of $287.04 million. During the same quarter last year, the business earned $1.67 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Bio-Techne Co. will post 7.9 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Monday, August 15th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 12th. This represents a $1.28 dividend on an annualized basis and a yield of 0.39%. Bio-Techne’s payout ratio is presently 19.34%.

Insiders Place Their Bets

In other Bio-Techne news, Director John L. Higgins sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $364.31, for a total transaction of $364,310.00. Following the completion of the sale, the director now directly owns 4,606 shares in the company, valued at approximately $1,678,011.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bio-Techne news, Director John L. Higgins sold 1,992 shares of Bio-Techne stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $377.11, for a total value of $751,203.12. Following the transaction, the director now directly owns 6,014 shares of the company’s stock, valued at approximately $2,267,939.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Higgins sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $364.31, for a total value of $364,310.00. Following the sale, the director now owns 4,606 shares in the company, valued at $1,678,011.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,096 shares of company stock worth $2,978,473. 4.10% of the stock is currently owned by company insiders.

About Bio-Techne

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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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