Bio-Techne Co. (NASDAQ:TECH) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 317.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,243 shares of the biotechnology company’s stock after acquiring an additional 103,627 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Bio-Techne were worth $9,814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Bio-Techne in the third quarter valued at $39,000. Quest Partners LLC acquired a new stake in shares of Bio-Techne in the third quarter valued at $43,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Bio-Techne by 60.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 253 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Bio-Techne by 35.0% in the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the subject of a number of recent research reports. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday. Baird R W downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Scotiabank lifted their price target on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 6th. Finally, KeyCorp lifted their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average target price of $82.14.

Insider Activity at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, the director now owns 1,976 shares in the company, valued at $130,336.96. The trade was a 48.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Bio-Techne Stock Up 0.7 %

TECH opened at $62.58 on Tuesday. The business’s 50-day simple moving average is $69.22 and its 200-day simple moving average is $72.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94. Bio-Techne Co. has a one year low of $56.60 and a one year high of $85.57. The stock has a market capitalization of $9.89 billion, a P/E ratio of 63.21, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. Analysts anticipate that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, February 14th. Bio-Techne’s dividend payout ratio (DPR) is currently 32.32%.

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.