2,803 Shares in Bio-Techne Co. (NASDAQ:TECH) Acquired by Simplicity Solutions LLC

Simplicity Solutions LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,803 shares of the biotechnology company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TECH. Private Advisor Group LLC grew its stake in shares of Bio-Techne by 31.2% during the 1st quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock worth $680,000 after purchasing an additional 374 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Bio-Techne by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock worth $2,276,000 after purchasing an additional 325 shares during the period. Raymond James Trust N.A. lifted its position in shares of Bio-Techne by 8.0% during the 1st quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock valued at $635,000 after buying an additional 108 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Bio-Techne by 13.3% during the 1st quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock valued at $848,000 after buying an additional 230 shares in the last quarter. Finally, Aviva PLC lifted its position in shares of Bio-Techne by 9.9% during the 1st quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock valued at $7,491,000 after buying an additional 1,552 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.1 %

Shares of TECH opened at $62.12 on Monday. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The company has a market capitalization of $9.76 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 7.04 and a beta of 1.22. The stock has a fifty day simple moving average of $70.50 and a two-hundred day simple moving average of $68.65. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23.

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

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TECH shares. Stephens decreased 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. 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. Royal Bank of Canada decreased 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. Deutsche Bank Aktiengesellschaft decreased their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Scotiabank assumed coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.90.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.45% of the company’s stock.

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.