Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,720 shares of the biotechnology company’s stock after selling 629 shares during the period. Janney Montgomery Scott LLC’s holdings in Bio-Techne were worth $772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brooklyn Investment Group acquired a new stake in Bio-Techne during the third quarter valued at approximately $39,000. UMB Bank n.a. increased its holdings in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 168 shares during the last quarter. Quest Partners LLC bought a new position in Bio-Techne during the third quarter worth $43,000. Mather Group LLC. boosted its holdings in Bio-Techne by 51.5% in the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 208 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Bio-Techne by 60.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Insider Transactions at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value 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 approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Bio-Techne Price Performance

NASDAQ:TECH opened at $72.81 on Friday. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $74.61 and its 200 day moving average price is $74.37. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The firm has a market cap of $11.57 billion, a P/E ratio of 77.46, a PEG ratio of 5.42 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. As a group, sell-side analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TECH. KeyCorp raised their price target on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Scotiabank lifted their target price on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Thursday. Royal Bank of Canada increased their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday. Robert W. Baird raised their price target 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.57.

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.