Van Berkom & Associates Inc. Has $1.45 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Van Berkom & Associates Inc. cut its position in shares of Bio-Techne Co. (NASDAQ:TECHFree Report) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 20,132 shares of the biotechnology company’s stock after selling 652 shares during the quarter. Van Berkom & Associates Inc.’s holdings in Bio-Techne were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Bio-Techne during the third quarter worth approximately $89,724,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Bio-Techne by 21.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock worth $147,002,000 after acquiring an additional 354,478 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $20,071,000. First Citizens Bank & Trust Co. raised its stake in Bio-Techne by 4,392.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 123,013 shares of the biotechnology company’s stock valued at $8,861,000 after acquiring an additional 120,275 shares during the period. Finally, Broadcrest Asset Management LLC raised its stake in Bio-Techne by 100.0% in the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after acquiring an additional 100,000 shares during the period. 98.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TECH shares. KeyCorp upped their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird lowered shares of Bio-Techne from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $88.00 to $68.00 in a research note on Wednesday. Scotiabank increased their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada increased their target price on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.29.

Get Our Latest Report on TECH

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $65.49 on Friday. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The company’s 50 day moving average price is $72.91 and its two-hundred day moving average price is $73.52. The firm has a market cap of $10.35 billion, a PE ratio of 66.15, a PEG ratio of 2.89 and a beta of 1.27. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECHGet Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. Equities research analysts predict that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, February 14th. Bio-Techne’s payout ratio is currently 32.32%.

Insider Activity at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, the director now directly owns 1,976 shares of the company’s stock, valued at $130,336.96. This trade represents a 48.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the transaction, the chief executive officer now owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Bio-Techne Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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