Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Swiss National Bank

Swiss National Bank cut its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 494,900 shares of the biotechnology company’s stock after selling 11,500 shares during the quarter. Swiss National Bank owned about 0.31% of Bio-Techne worth $38,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Bio-Techne during the third quarter valued at about $27,000. CVA Family Office LLC purchased a new stake in Bio-Techne in the fourth quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new stake in Bio-Techne in the fourth quarter valued at approximately $44,000. Federated Hermes Inc. purchased a new stake in Bio-Techne in the third quarter valued at approximately $47,000. Finally, Clear Street Markets LLC raised its position in Bio-Techne by 255.8% in the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 527 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Bio-Techne Trading Up 1.8 %

TECH opened at $77.46 on Wednesday. The business’s 50-day simple moving average is $69.93 and its 200-day simple moving average is $68.75. The company has a market cap of $12.18 billion, a P/E ratio of 61.48, a PEG ratio of 9.08 and a beta of 1.23. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data 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. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The company had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that Bio-Techne Co. will post 1.52 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.41%. Bio-Techne’s dividend payout ratio is presently 25.40%.

Analysts Set New Price Targets

A number of brokerages have issued reports on TECH. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Thursday, May 2nd. Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Friday, February 2nd. Scotiabank began coverage on Bio-Techne in a research report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Royal Bank of Canada cut their target price on 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.50.

Bio-Techne 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.