New Mexico Educational Retirement Board trimmed its holdings in shares of Bio-Techne Co. (NASDAQ:TECH – Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,300 shares of the biotechnology company’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Bio-Techne were worth $542,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TECH. Quantbot Technologies LP purchased a new stake in Bio-Techne during the first quarter worth approximately $56,000. Harbour Investments Inc. grew its holdings in Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 244 shares during the period. Resurgent Financial Advisors LLC acquired a new position in Bio-Techne during the fourth quarter worth $29,000. Financial Freedom LLC acquired a new stake in Bio-Techne in the first quarter valued at $30,000. Finally, Ellevest Inc. grew its holdings in Bio-Techne by 176.9% in the fourth quarter. Ellevest Inc. now owns 479 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 306 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.
Bio-Techne Trading Down 1.6 %
Bio-Techne stock opened at $82.10 on Wednesday. Bio-Techne Co. has a 52 week low of $68.00 and a 52 week high of $99.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.84 and a current ratio of 4.04. The stock has a market capitalization of $12.93 billion, a P/E ratio of 49.16, a PEG ratio of 3.15 and a beta of 1.22. The stock has a 50-day simple moving average of $81.38 and a 200 day simple moving average of $79.20.
Insider Buying and Selling
In related news, CEO Charles R. Kummeth sold 80,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $88.36, for a total value of $7,068,800.00. Following the sale, the chief executive officer now owns 1,258,766 shares in the company, valued at approximately $111,224,563.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.45% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Robert W. Baird increased their target price on Bio-Techne from $99.00 to $100.00 in a research report on Thursday, May 4th. StockNews.com started coverage on Bio-Techne in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.45.
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 worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.
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