Bio-Techne Co. (NASDAQ:TECH) Holdings Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 598,918 shares of the biotechnology company’s stock after selling 38,188 shares during the period. Corient Private Wealth LLC owned 0.38% of Bio-Techne worth $43,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group acquired a new stake in Bio-Techne in the third quarter worth about $39,000. Quest Partners LLC bought a new position in Bio-Techne in the 3rd quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB increased its stake in Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 253 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Bio-Techne by 35.0% during the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock worth $55,000 after buying an additional 198 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TECH has been the subject of several recent analyst reports. Baird R W cut shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Citigroup decreased their price target on Bio-Techne from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Robert W. Baird downgraded Bio-Techne from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $88.00 to $68.00 in a research note on Wednesday, February 19th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Scotiabank lifted their target price on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average price target of $82.14.

Bio-Techne Trading Up 0.7 %

Shares of NASDAQ TECH opened at $62.58 on Tuesday. 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 Co. has a 12 month low of $56.60 and a 12 month high of $85.57. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 63.21, a P/E/G ratio of 2.88 and a beta of 1.30. The business has a fifty day simple moving average of $69.22 and a 200-day simple moving average of $72.21.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Sell-side analysts predict that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, February 14th. Bio-Techne’s payout ratio is 32.32%.

Insider Buying and Selling at Bio-Techne

In other news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction on Monday, January 27th. The stock was 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 in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy E. Herr sold 1,860 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the completion of the sale, the director now directly owns 1,976 shares of the company’s stock, valued at approximately $130,336.96. This represents a 48.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

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.