Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lessened its holdings in Bio-Techne Co. (NASDAQ:TECH) by 68.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,374 shares of the biotechnology company’s stock after selling 19,929 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Bio-Techne were worth $723,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Bio-Techne in the fourth quarter worth $31,000. First Horizon Advisors Inc. boosted its holdings in Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 191 shares during the period. GAMMA Investing LLC acquired a new position in Bio-Techne in the fourth quarter worth $44,000. Federated Hermes Inc. acquired a new position in Bio-Techne in the third quarter worth $47,000. Finally, Clear Street Markets LLC boosted its holdings in Bio-Techne by 255.8% in the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 527 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TECH. Deutsche Bank Aktiengesellschaft cut their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Wednesday. Scotiabank initiated coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective on the stock. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Thursday, May 2nd. Finally, Stephens cut their price objective on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

Bio-Techne Trading Up 0.4 %

Shares of TECH opened at $82.98 on Thursday. The business’s 50-day moving average price is $71.55 and its 200 day moving average price is $70.47. The stock has a market capitalization of $13.08 billion, a P/E ratio of 65.86, a P/E/G ratio of 9.93 and a beta of 1.23. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. Bio-Techne’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. Analysts expect that Bio-Techne Co. will post 1.56 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.39%. Bio-Techne’s dividend payout ratio (DPR) is presently 25.40%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.45% of the company’s stock.

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.