UBS Asset Management Americas Inc. trimmed its position in BIO-TECHNE Corp (NASDAQ:TECH) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,807 shares of the biotechnology company’s stock after selling 1,657 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.08% of BIO-TECHNE worth $3,991,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC increased its position in BIO-TECHNE by 1,423.3% in the fourth quarter. Advisory Services Network LLC now owns 1,112 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,039 shares during the period. Zions Bancorporation acquired a new stake in BIO-TECHNE in the third quarter worth about $178,000. Gofen & Glossberg LLC IL acquired a new stake in BIO-TECHNE in the fourth quarter worth about $205,000. Aull & Monroe Investment Management Corp acquired a new stake in BIO-TECHNE in the fourth quarter worth about $214,000. Finally, Turner Investments LLC acquired a new stake in BIO-TECHNE in the third quarter worth about $242,000. Hedge funds and other institutional investors own 97.15% of the company’s stock.
BIO-TECHNE Corp (NASDAQ:TECH) opened at $146.56 on Wednesday. The stock has a market capitalization of $5,490.00, a PE ratio of 66.62, a PEG ratio of 2.81 and a beta of 0.75. BIO-TECHNE Corp has a 12-month low of $98.22 and a 12-month high of $148.26. The company has a current ratio of 3.10, a quick ratio of 2.49 and a debt-to-equity ratio of 0.36.
The business also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.87%. BIO-TECHNE’s payout ratio is currently 58.18%.
In related news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is currently owned by insiders.
A number of analysts recently commented on TECH shares. Deutsche Bank set a $163.00 price objective on BIO-TECHNE and gave the stock a “buy” rating in a research report on Thursday, March 1st. BidaskClub upgraded BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Robert W. Baird boosted their target price on BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded BIO-TECHNE from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Wednesday, December 20th. Finally, Craig Hallum restated a “buy” rating and set a $160.00 target price (up from $140.00) on shares of BIO-TECHNE in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. BIO-TECHNE presently has an average rating of “Buy” and a consensus price target of $148.60.
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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