Envestnet Asset Management Inc. lifted its stake in Bio-Techne Co. (NASDAQ:TECH – Free Report) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,075 shares of the biotechnology company’s stock after purchasing an additional 803 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Bio-Techne worth $15,734,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Bio-Techne during the 1st quarter worth $25,000. Harbour Investments Inc. grew its holdings in Bio-Techne by 305.0% during the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 244 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in Bio-Techne during the 4th quarter worth $29,000. Financial Freedom LLC acquired a new stake in Bio-Techne during the 1st quarter worth $30,000. Finally, Lazard Asset Management LLC grew its holdings in Bio-Techne by 447.5% during the 4th quarter. Lazard Asset Management LLC now owns 553 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 94.64% of the company’s stock.
Analyst Ratings Changes
TECH has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on shares of Bio-Techne from $100.00 to $90.00 in a report on Wednesday, August 9th. Stephens reissued an “overweight” rating and set a $100.00 price target on shares of Bio-Techne in a research report on Wednesday, August 9th. William Blair initiated coverage on shares of Bio-Techne in a research report on Monday, August 28th. They set an “outperform” rating on the stock. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Benchmark reissued a “buy” rating and set a $120.00 price target on shares of Bio-Techne in a research report on Friday, August 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus target price of $101.78.
Bio-Techne Trading Up 0.5 %
TECH opened at $78.76 on Friday. The stock has a market capitalization of $12.46 billion, a P/E ratio of 44.75, a P/E/G ratio of 4.13 and a beta of 1.22. Bio-Techne Co. has a 12 month low of $68.00 and a 12 month high of $90.63. The firm’s fifty day simple moving average is $81.87 and its 200 day simple moving average is $79.47. The company has a current ratio of 4.84, a quick ratio of 3.50 and a debt-to-equity ratio of 0.18.
Bio-Techne (NASDAQ:TECH – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. Bio-Techne had a net margin of 25.10% and a return on equity of 15.47%. The company had revenue of $301.32 million during the quarter, compared to the consensus estimate of $304.71 million. As a group, research analysts anticipate that Bio-Techne Co. will post 1.81 EPS for the current fiscal year.
Bio-Techne Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Bio-Techne’s dividend payout ratio is 18.18%.
Insider Transactions at Bio-Techne
In other news, Director Roeland Nusse sold 8,939 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total value of $717,980.48. Following the sale, the director now directly owns 51,872 shares of the company’s stock, valued at approximately $4,166,359.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Charles R. Kummeth sold 80,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $88.36, for a total value of $7,068,800.00. Following the sale, the chief executive officer now directly owns 1,258,766 shares of the company’s stock, valued at approximately $111,224,563.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roeland Nusse sold 8,939 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total transaction of $717,980.48. Following the completion of the sale, the director now directly owns 51,872 shares in the company, valued at $4,166,359.04. The disclosure for this sale can be found here. Company insiders own 4.45% of the company’s stock.
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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