Bio-Techne Co. (NASDAQ:TECH) Shares Purchased by Cwm LLC

Cwm LLC lifted its position in Bio-Techne Co. (NASDAQ:TECH) by 38.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,481 shares of the biotechnology company’s stock after purchasing an additional 971 shares during the period. Cwm LLC’s holdings in Bio-Techne were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Bio-Techne by 13.8% during the third quarter. Bank of New York Mellon Corp now owns 2,476,552 shares of the biotechnology company’s stock worth $168,579,000 after acquiring an additional 300,903 shares during the period. Invesco Ltd. raised its position in Bio-Techne by 14.8% during the third quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock worth $128,027,000 after acquiring an additional 241,771 shares during the period. Qube Research & Technologies Ltd acquired a new position in Bio-Techne during the third quarter worth $15,499,000. Mackenzie Financial Corp raised its position in Bio-Techne by 9.4% during the third quarter. Mackenzie Financial Corp now owns 2,329,033 shares of the biotechnology company’s stock worth $154,881,000 after acquiring an additional 200,032 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Bio-Techne by 14.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,309,295 shares of the biotechnology company’s stock worth $101,025,000 after acquiring an additional 170,100 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were 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 of the company’s stock, valued at $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.45% of the stock is currently owned by corporate insiders.

Bio-Techne Trading Up 2.2 %

Shares of TECH opened at $77.29 on Friday. The company has a current ratio of 4.08, a quick ratio of 3.03 and a debt-to-equity ratio of 0.19. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The firm has a 50-day moving average price of $69.76 and a 200 day moving average price of $68.55. The firm has a market capitalization of $12.15 billion, a P/E ratio of 61.34, a P/E/G ratio of 9.14 and a beta of 1.23.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm had revenue of $303.43 million during the quarter, compared to analyst estimates of $292.36 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Bio-Techne’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that Bio-Techne Co. will post 1.52 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be given a $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Bio-Techne’s payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. Scotiabank assumed coverage on shares of Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price for the company. Stephens dropped their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Stifel Nicolaus lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

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.