Bio-Techne Co. (NASDAQ:TECH) Position Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Bio-Techne Co. (NASDAQ:TECH) by 44.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,119 shares of the biotechnology company’s stock after selling 14,342 shares during the period. State of Alaska Department of Revenue’s holdings in Bio-Techne were worth $1,305,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TECH. Choreo LLC lifted its holdings in shares of Bio-Techne by 14.3% in the fourth quarter. Choreo LLC now owns 4,812 shares of the biotechnology company’s stock valued at $348,000 after purchasing an additional 603 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Bio-Techne by 46.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company’s stock valued at $1,215,000 after buying an additional 5,295 shares during the period. Retirement Systems of Alabama lifted its stake in Bio-Techne by 1.0% in the 4th quarter. Retirement Systems of Alabama now owns 34,402 shares of the biotechnology company’s stock worth $2,478,000 after acquiring an additional 336 shares in the last quarter. Trust Point Inc. boosted its position in Bio-Techne by 84.2% during the 4th quarter. Trust Point Inc. now owns 16,038 shares of the biotechnology company’s stock worth $1,155,000 after acquiring an additional 7,333 shares during the period. Finally, GEN Financial Management INC. purchased a new position in Bio-Techne during the 4th quarter valued at about $224,000. Institutional investors and hedge funds 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 company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $67.44 on Thursday. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 68.12, a PEG ratio of 5.54 and a beta of 1.27. The business has a 50 day moving average price of $74.14 and a 200 day moving average price of $74.11. The company has a quick ratio of 3.26, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month high of $85.57.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results 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 12.73% and a net margin of 13.22%. Research analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on TECH. Robert W. Baird raised 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 upped their price target on shares of 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 upped 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.57.

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.