Mirae Asset Global Investments Co. Ltd. Grows Stake in Bio-Techne Co. (NASDAQ:TECH)

Mirae Asset Global Investments Co. Ltd. raised its position in Bio-Techne Co. (NASDAQ:TECH) by 46.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,650 shares of the biotechnology company’s stock after purchasing an additional 5,295 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bio-Techne were worth $1,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TECH. Point72 Asset Management L.P. acquired a new stake in Bio-Techne during the 3rd quarter valued at $89,724,000. Point72 DIFC Ltd acquired a new stake in shares of Bio-Techne during the third quarter valued at $20,071,000. First Citizens Bank & Trust Co. increased its position 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 worth $8,861,000 after purchasing an additional 120,275 shares in the last quarter. Broadcrest Asset Management LLC raised its stake in Bio-Techne by 100.0% in the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after purchasing an additional 100,000 shares during the last quarter. Finally, State Street Corp lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the transaction, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

Bio-Techne Trading Down 2.3 %

TECH stock opened at $68.34 on Wednesday. The company has a quick ratio of 3.26, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 69.03, a PEG ratio of 5.54 and a beta of 1.27. The business has a fifty day simple moving average of $74.31 and a 200-day simple moving average of $74.15. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, equities research analysts expect that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be issued a $0.08 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.47%. Bio-Techne’s payout ratio is 32.32%.

Analyst Ratings Changes

A number of brokerages have recently commented on TECH. Robert W. Baird lifted their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. KeyCorp increased their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price objective on Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Scotiabank increased their target price on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $86.57.

Bio-Techne 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.