Bio-Techne Co. (NASDAQ:TECH) Shares Sold by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. lowered its stake in Bio-Techne Co. (NASDAQ:TECH – Get Rating) by 12.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 117,265 shares of the biotechnology company’s stock after selling 17,354 shares during the quarter. UBS Asset Management Americas Inc. owned 0.30% of Bio-Techne worth $33,303,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CAPROCK Group Inc. grew its stake in Bio-Techne by 1.0% in the 3rd quarter. CAPROCK Group Inc. now owns 3,389 shares of the biotechnology company’s stock valued at $962,000 after acquiring an additional 33 shares during the period. Wetherby Asset Management Inc. grew its stake in Bio-Techne by 4.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 737 shares of the biotechnology company’s stock valued at $319,000 after acquiring an additional 34 shares during the period. Daiwa Securities Group Inc. grew its stake in Bio-Techne by 1.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,384 shares of the biotechnology company’s stock valued at $961,000 after acquiring an additional 38 shares during the period. Financial Consulate Inc. grew its stake in Bio-Techne by 3.4% in the 3rd quarter. Financial Consulate Inc. now owns 1,230 shares of the biotechnology company’s stock valued at $349,000 after acquiring an additional 40 shares during the period. Finally, Legal Advantage Investments Inc. grew its stake in Bio-Techne by 1.5% in the 3rd quarter. Legal Advantage Investments Inc. now owns 2,740 shares of the biotechnology company’s stock valued at $778,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 23.92% of the company’s stock.

Bio-Techne Stock Down 0.2 %

Shares of TECH opened at $71.82 on Tuesday. The firm has a market cap of $11.30 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. Bio-Techne Co. has a 12-month low of $68.00 and a 12-month high of $113.81. The company’s 50-day moving average price is $78.32 and its 200 day moving average price is $80.74. The company has a current ratio of 4.40, a quick ratio of 3.15 and a debt-to-equity ratio of 0.11.

Bio-Techne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Monday, February 13th were issued a $0.08 dividend. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.02. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, February 10th. Bio-Techne’s payout ratio is 19.88%.

Analysts Set New Price Targets

Several brokerages have issued reports on TECH. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Thursday, March 2nd. Stephens lowered their target price on shares of Bio-Techne to $105.00 and set an “overweight” rating on the stock in a research note on Monday, December 5th. Wells Fargo & Company raised shares of Bio-Techne from an “underweight” rating to an “equal weight” rating and set a $90.00 target price on the stock in a research note on Tuesday, January 10th. Benchmark reaffirmed a “buy” rating and set a $120.00 target price on shares of Bio-Techne in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Bio-Techne in a report on Tuesday, December 13th. They set a “buy” rating and a $100.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.36.

About Bio-Techne

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Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.