Mirae Asset Global Investments Co. Ltd. Has $5.43 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Bio-Techne Co. (NASDAQ:TECH) by 46.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 70,368 shares of the biotechnology company’s stock after selling 60,548 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bio-Techne were worth $5,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Bio-Techne by 0.7% in the first quarter. BlackRock Inc. now owns 15,994,625 shares of the biotechnology company’s stock valued at $1,186,641,000 after buying an additional 105,985 shares during the last quarter. Select Equity Group L.P. lifted its holdings in Bio-Techne by 382.9% during the 4th quarter. Select Equity Group L.P. now owns 7,153,947 shares of the biotechnology company’s stock worth $592,919,000 after purchasing an additional 5,672,587 shares during the last quarter. State Street Corp lifted its holdings in Bio-Techne by 2.2% during the 2nd quarter. State Street Corp now owns 6,414,193 shares of the biotechnology company’s stock worth $523,591,000 after purchasing an additional 136,127 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Bio-Techne by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,445,265 shares of the biotechnology company’s stock worth $1,924,978,000 after purchasing an additional 18,627 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Bio-Techne by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 3,741,171 shares of the biotechnology company’s stock worth $277,019,000 after purchasing an additional 65,432 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on TECH. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target for the company. Stephens dropped their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Royal Bank of Canada dropped their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Finally, Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.11.

Bio-Techne Trading Down 3.0 %

Shares of TECH opened at $66.73 on Monday. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The business’s fifty day moving average is $70.89 and its 200-day moving average is $68.79. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 7.55 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The firm had revenue of $272.60 million for the quarter, compared to analyst estimates of $277.48 million. Equities analysts anticipate that Bio-Techne Co. will post 1.53 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, February 9th. Bio-Techne’s payout ratio is presently 23.19%.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now directly owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Bio-Techne Profile

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.