US Bancorp DE Has $12.93 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

US Bancorp DE boosted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 11.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 167,616 shares of the biotechnology company’s stock after acquiring an additional 16,989 shares during the period. US Bancorp DE’s holdings in Bio-Techne were worth $12,933,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC grew its holdings in shares of Bio-Techne by 831.4% in the 4th quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock valued at $3,565,000 after buying an additional 41,244 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Bio-Techne by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,439,919 shares of the biotechnology company’s stock valued at $111,104,000 after buying an additional 28,095 shares during the period. Spire Wealth Management grew its holdings in shares of Bio-Techne by 38,075.5% in the 4th quarter. Spire Wealth Management now owns 59,172 shares of the biotechnology company’s stock valued at $4,161,000 after buying an additional 59,017 shares during the period. Andra AP fonden grew its holdings in shares of Bio-Techne by 113.4% in the 3rd quarter. Andra AP fonden now owns 39,900 shares of the biotechnology company’s stock valued at $2,716,000 after buying an additional 21,200 shares during the period. Finally, Deutsche Bank AG lifted its position in Bio-Techne by 11.1% in the 3rd quarter. Deutsche Bank AG now owns 611,813 shares of the biotechnology company’s stock valued at $41,646,000 after acquiring an additional 61,190 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Insider Activity

In other news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now directly owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Friday, February 2nd. 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 report on Wednesday, May 22nd. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada cut their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Bio-Techne Stock Up 0.5 %

Shares of TECH stock opened at $80.79 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. The firm’s 50-day moving average is $71.90 and its 200-day moving average is $70.77. The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 64.12, a PEG ratio of 9.70 and a beta of 1.23. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91.

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

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were issued a $0.08 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Bio-Techne’s payout ratio is 25.40%.

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.