Bio-Techne Co. (NASDAQ:TECH) Shares Sold by World Investment Advisors

World Investment Advisors cut its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 7.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,255 shares of the biotechnology company’s stock after selling 1,702 shares during the period. World Investment Advisors’ holdings in Bio-Techne were worth $1,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 168 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. Versant Capital Management Inc lifted its stake in Bio-Techne by 35.0% in the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 198 shares in the last quarter. Huntington National Bank boosted its holdings in Bio-Techne by 42.6% in the 4th quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company’s stock worth $78,000 after buying an additional 322 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. increased its stake in Bio-Techne by 1,355.6% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 1,048 shares of the biotechnology company’s stock worth $81,000 after buying an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the sale, the director now owns 1,976 shares of the company’s stock, valued at $130,336.96. The trade was a 48.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total value 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 currently owned by corporate insiders.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $51.72 on Friday. The company’s 50-day moving average is $64.44 and its two-hundred day moving average is $70.82. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 2.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77. Bio-Techne Co. has a 1-year low of $50.35 and a 1-year high of $85.57.

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

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were issued a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.62%. Bio-Techne’s dividend payout ratio (DPR) is currently 32.32%.

Analysts Set New Price Targets

TECH has been the topic of a number of research analyst reports. Robert W. Baird lowered Bio-Techne from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $88.00 to $68.00 in a research note on Wednesday, February 19th. Evercore ISI began coverage on shares of Bio-Techne in a report on Tuesday, March 18th. They set an “outperform” rating and a $75.00 target price for the company. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday. 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 research note on Thursday, February 6th. Finally, Scotiabank raised their target price on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

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.