Allworth Financial LP Reduces Holdings in Bio-Techne Co. (NASDAQ:TECH)

Allworth Financial LP trimmed its holdings in Bio-Techne Co. (NASDAQ:TECH) by 69.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 527 shares of the biotechnology company’s stock after selling 1,172 shares during the quarter. Allworth Financial LP’s holdings in Bio-Techne were worth $41,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its stake in shares of Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group purchased a new position in Bio-Techne in the 3rd quarter valued at approximately $39,000. Quest Partners LLC purchased a new position in Bio-Techne in the 3rd quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $48,000 after purchasing an additional 253 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Bio-Techne by 35.0% during the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TECH. Robert W. Baird lowered shares of Bio-Techne from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. Baird R W lowered shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank upped their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 6th. Finally, KeyCorp lifted their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.29.

Insider Transactions at Bio-Techne

In other news, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the transaction, the director now directly owns 1,976 shares in the company, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kim Kelderman sold 13,392 shares of the company’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Bio-Techne Trading Down 2.0 %

Shares of NASDAQ TECH opened at $64.22 on Wednesday. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $10.15 billion, a P/E ratio of 64.87, a PEG ratio of 2.88 and a beta of 1.27. The stock’s 50 day moving average price is $72.26 and its two-hundred day moving average price is $73.30.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share 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, analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be issued 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 0.50%. Bio-Techne’s dividend payout ratio (DPR) is presently 32.32%.

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.