Bio-Techne Co. (NASDAQ:TECH) Position Cut by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its position in Bio-Techne Co. (NASDAQ:TECH) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,755 shares of the biotechnology company’s stock after selling 2,957 shares during the period. Pacer Advisors Inc.’s holdings in Bio-Techne were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TECH. Point72 Asset Management L.P. purchased a new position in shares of Bio-Techne during the third quarter valued at $89,724,000. Point72 DIFC Ltd acquired a new stake in Bio-Techne during the 3rd quarter worth about $20,071,000. First Citizens Bank & Trust Co. grew its stake in Bio-Techne by 4,392.8% during the 4th quarter. First Citizens Bank & Trust Co. now owns 123,013 shares of the biotechnology company’s stock valued at $8,861,000 after acquiring an additional 120,275 shares in the last quarter. Broadcrest Asset Management LLC grew its stake in Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after acquiring an additional 100,000 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Bio-Techne by 1.5% in the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock valued at $511,232,000 after purchasing an additional 95,133 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Insider Activity

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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 owns 39,004 shares of the company’s stock, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is currently owned by insiders.

Bio-Techne Trading Down 2.0 %

Shares of NASDAQ:TECH opened at $72.05 on Tuesday. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.45 billion, a PE ratio of 76.65, a P/E/G ratio of 5.42 and a beta of 1.27. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year high of $85.57. The firm has a fifty day moving average price of $74.67 and a 200 day moving average price of $74.38.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TECH shares. Scotiabank upped their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.00.

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.