Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Free Report) by 19.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 23,500 shares of the biotechnology company’s stock after selling 5,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bio-Techne were worth $1,693,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Bradley Foster & Sargent Inc. CT boosted its position in Bio-Techne by 1.5% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 160 shares in the last quarter. ING Groep NV bought a new stake in Bio-Techne during the fourth quarter valued at about $1,462,000. New York State Common Retirement Fund raised its stake in Bio-Techne by 4.2% in the fourth quarter. New York State Common Retirement Fund now owns 544,058 shares of the biotechnology company’s stock valued at $39,188,000 after buying an additional 22,145 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Bio-Techne by 45.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,376 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 429 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Bio-Techne by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 24,173 shares of the biotechnology company’s stock valued at $1,741,000 after buying an additional 1,214 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.
Bio-Techne Trading Down 0.1 %
Shares of NASDAQ:TECH opened at $64.15 on Thursday. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 64.80, a PEG ratio of 2.88 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. The business has a 50-day moving average price of $72.12 and a 200-day moving average price of $73.24.
Bio-Techne Dividend Announcement
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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, February 14th. Bio-Techne’s dividend payout ratio is currently 32.32%.
Insider Activity at Bio-Techne
In related news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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. 3.90% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research firms have commented on TECH. KeyCorp increased their price target on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank increased their price target on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 6th. Baird R W cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Robert W. Baird cut 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, February 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.29.
Get Our Latest Stock Report on TECH
About Bio-Techne
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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