Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Ownership Capital B.V.

Ownership Capital B.V. lessened its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 21.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,395,246 shares of the biotechnology company’s stock after selling 391,027 shares during the quarter. Bio-Techne comprises about 2.4% of Ownership Capital B.V.’s holdings, making the stock its 19th biggest holding. Ownership Capital B.V. owned about 0.88% of Bio-Techne worth $107,657,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bio-Techne during the third quarter worth about $27,000. CVA Family Office LLC purchased a new stake in shares of Bio-Techne during the fourth quarter worth approximately $31,000. GAMMA Investing LLC purchased a new stake in shares of Bio-Techne during the fourth quarter worth approximately $44,000. Federated Hermes Inc. purchased a new stake in shares of Bio-Techne during the third quarter worth approximately $47,000. Finally, Clear Street Markets LLC increased its stake in shares of Bio-Techne by 255.8% during the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after buying an additional 527 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH traded up $1.40 during mid-day trading on Friday, reaching $64.06. 973,784 shares of the company’s stock were exchanged, compared to its average volume of 917,625. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The stock has a market capitalization of $10.07 billion, a PE ratio of 46.42, a price-to-earnings-growth ratio of 7.80 and a beta of 1.22. The business’s fifty day simple moving average is $69.82 and its 200-day simple moving average is $68.48. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week 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 analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $272.60 million for the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. On average, equities research analysts expect that Bio-Techne Co. will post 1.52 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were given a dividend of $0.08 per share. 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 dividend payout ratio (DPR) is presently 23.19%.

Insider Transactions at Bio-Techne

In related news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the sale, the director now directly owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TECH shares. Scotiabank started coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price on the stock. Stifel Nicolaus lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Friday, February 2nd. Stephens cut their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada dropped their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.90.

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.