First Trust Direct Indexing L.P. boosted its holdings in Bio-Techne Co. (NASDAQ:TECH – Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,091 shares of the biotechnology company’s stock after purchasing an additional 431 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Bio-Techne were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Bio-Techne by 0.7% in the first quarter. BlackRock Inc. now owns 15,994,625 shares of the biotechnology company’s stock valued at $1,186,641,000 after purchasing an additional 105,985 shares during the last quarter. Select Equity Group L.P. boosted its holdings in shares of Bio-Techne by 382.9% in the 4th quarter. Select Equity Group L.P. now owns 7,153,947 shares of the biotechnology company’s stock valued at $592,919,000 after purchasing an additional 5,672,587 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Bio-Techne by 286.7% during the 4th quarter. Bamco Inc. NY now owns 5,519,062 shares of the biotechnology company’s stock valued at $457,420,000 after buying an additional 4,091,998 shares during the period. Vanguard Group Inc. increased its holdings in shares of Bio-Techne by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 4,445,265 shares of the biotechnology company’s stock worth $1,924,978,000 after buying an additional 18,627 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Bio-Techne by 299.2% in the 4th quarter. Neuberger Berman Group LLC now owns 4,134,391 shares of the biotechnology company’s stock worth $342,658,000 after buying an additional 3,098,731 shares during the period. 94.64% of the stock is currently owned by institutional investors and hedge funds.
Bio-Techne Trading Down 1.3 %
TECH opened at $68.43 on Tuesday. Bio-Techne Co. has a 12-month low of $68.00 and a 12-month high of $90.63. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.84 and a quick ratio of 3.50. The stock has a market capitalization of $10.83 billion, a PE ratio of 38.83, a P/E/G ratio of 3.81 and a beta of 1.21. The firm’s fifty day moving average price is $79.16 and its 200 day moving average price is $79.22.
Bio-Techne Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, August 17th. Bio-Techne’s dividend payout ratio (DPR) is 18.16%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on TECH. Stephens reiterated an “overweight” rating and set a $100.00 target price on shares of Bio-Techne in a report on Wednesday, August 9th. William Blair initiated coverage on shares of Bio-Techne in a research report on Monday, August 28th. They set an “outperform” rating for the company. Benchmark reissued a “buy” rating and issued a $120.00 price objective on shares of Bio-Techne in a research report on Friday, August 18th. Robert W. Baird decreased their target price on Bio-Techne from $100.00 to $90.00 in a research report on Wednesday, August 9th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $86.00 price target on shares of Bio-Techne in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.58.
Read Our Latest Stock Report on Bio-Techne
Insider Transactions at Bio-Techne
In other news, Director Roeland Nusse sold 8,939 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $80.32, for a total transaction of $717,980.48. Following the completion of the transaction, the director now directly owns 51,872 shares in the company, valued at $4,166,359.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Roeland Nusse sold 8,939 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total value of $717,980.48. Following the completion of the sale, the director now directly owns 51,872 shares of the company’s stock, valued at approximately $4,166,359.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles R. Kummeth sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was 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 directly owns 1,258,766 shares in the company, valued at approximately $111,224,563.76. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
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.
Read More
- Five stocks we like better than Bio-Techne
- What is an Earnings Surprise?
- 2 Must-Have Silicon Companies That Don’t Make Microchips
- How to Invest in Canada for Beginners
- Small Caps That Have Priced In A Hard Landing For Big Upside
- Insider Trading – What You Need to Know
- This May Have Ended Alibaba’s Winter, But Is It Time To Buy?
Receive News & Ratings for Bio-Techne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne and related companies with MarketBeat.com's FREE daily email newsletter.
