Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 30.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,713 shares of the biotechnology company’s stock after selling 2,885 shares during the period. Verdence Capital Advisors LLC’s holdings in Bio-Techne were worth $518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal Advantage Investments Inc. raised its position in shares of Bio-Techne by 1.6% during the 3rd quarter. Legal Advantage Investments Inc. now owns 11,135 shares of the biotechnology company’s stock worth $758,000 after acquiring an additional 175 shares in the last quarter. Lindbrook Capital LLC increased its stake in Bio-Techne by 23.8% in the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 177 shares during the last quarter. Czech National Bank raised its holdings in Bio-Techne by 0.7% during the fourth quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock worth $2,137,000 after purchasing an additional 181 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Bio-Techne by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock worth $3,344,000 after buying an additional 200 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Bio-Techne by 17.3% in the 3rd quarter. Global Retirement Partners LLC now owns 1,514 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 223 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TECH. Scotiabank started 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 target on the stock. Stephens cut their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Royal Bank of Canada reduced their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Stifel Nicolaus cut Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.90.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is owned by insiders.

Bio-Techne Trading Up 1.1 %

Shares of TECH stock opened at $62.80 on Tuesday. The company has a market capitalization of $9.87 billion, a P/E ratio of 45.51, a price-to-earnings-growth ratio of 7.73 and a beta of 1.22. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $70.35 and its two-hundred day moving average is $68.61. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $272.60 million during the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Equities analysts forecast that Bio-Techne Co. will post 1.52 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.32 annualized dividend and a yield of 0.51%. Bio-Techne’s dividend payout ratio is currently 23.19%.

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.