Bio-Techne Co. (NASDAQ:TECH) Stock Position Increased by Signaturefd LLC

Signaturefd LLC lifted its position in Bio-Techne Co. (NASDAQ:TECH) by 24.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,296 shares of the biotechnology company’s stock after buying an additional 445 shares during the period. Signaturefd LLC’s holdings in Bio-Techne were worth $177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Legal Advantage Investments Inc. raised its stake in shares of Bio-Techne by 1.6% in the 3rd quarter. Legal Advantage Investments Inc. now owns 11,135 shares of the biotechnology company’s stock worth $758,000 after buying an additional 175 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Bio-Techne by 23.8% in the 4th quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after buying an additional 177 shares in the last quarter. Czech National Bank raised its stake in shares of Bio-Techne by 0.7% in the 4th quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock worth $2,137,000 after buying an additional 181 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Bio-Techne by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock worth $3,344,000 after buying an additional 200 shares in the last quarter. Finally, Valley Wealth Managers Inc. raised its stake in shares of Bio-Techne by 7.9% in the 3rd quarter. Valley Wealth Managers Inc. now owns 3,061 shares of the biotechnology company’s stock worth $208,000 after buying an additional 224 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH stock opened at $64.06 on Monday. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 7.97 and a beta of 1.22. The stock’s fifty day simple moving average is $69.82 and its 200-day simple moving average is $68.46.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The business had revenue of $272.60 million for the quarter, compared to analysts’ expectations of $277.48 million. On average, sell-side analysts predict that Bio-Techne Co. will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. Bio-Techne’s dividend payout ratio (DPR) is currently 23.19%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the transaction, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on TECH. Deutsche Bank Aktiengesellschaft dropped their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Friday, February 2nd. Stephens cut their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Scotiabank initiated coverage on Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price on the stock. Finally, Royal Bank of Canada cut their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $83.90.

Bio-Techne Company 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.