SVB Wealth LLC Lowers Stake in Bio-Techne Co. (NASDAQ:TECH)

SVB Wealth LLC reduced its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 26.8% in the fourth quarter, HoldingsChannel reports. The fund owned 68,653 shares of the biotechnology company’s stock after selling 25,151 shares during the period. SVB Wealth LLC’s holdings in Bio-Techne were worth $5,297,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in Bio-Techne in the first quarter worth about $56,000. Harbour Investments Inc. raised its holdings in Bio-Techne by 305.0% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after buying an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in Bio-Techne in the fourth quarter worth about $29,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bio-Techne in the third quarter worth about $27,000. Finally, CVA Family Office LLC purchased a new position in Bio-Techne in the fourth quarter worth about $31,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $64.01 on Wednesday. The firm has a 50 day moving average of $70.80 and a 200 day moving average of $68.74. 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 firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 7.41 and a beta of 1.22. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $272.60 million for the quarter, compared to the consensus estimate of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. On average, research analysts anticipate that Bio-Techne Co. will post 1.53 earnings per share for the current year.

Bio-Techne Dividend Announcement

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

Wall Street Analysts Forecast Growth

TECH has been the subject of several recent analyst reports. Stifel Nicolaus cut 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. Scotiabank started coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Royal Bank of Canada decreased 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 report on Friday, February 2nd. Finally, Stephens decreased their price objective 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.11.

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.