Cramer Rosenthal Mcglynn LLC Cuts Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Cramer Rosenthal Mcglynn LLC lessened its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,517 shares of the biotechnology company’s stock after selling 11,298 shares during the quarter. Bio-Techne comprises 2.0% of Cramer Rosenthal Mcglynn LLC’s holdings, making the stock its 11th biggest position. Cramer Rosenthal Mcglynn LLC’s holdings in Bio-Techne were worth $34,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TECH. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bio-Techne by 46.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company’s stock valued at $1,215,000 after acquiring an additional 5,295 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Bio-Techne by 58.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company’s stock worth $3,119,000 after purchasing an additional 16,038 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Bio-Techne during the 3rd quarter valued at approximately $1,188,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Bio-Techne by 11.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 254,034 shares of the biotechnology company’s stock worth $18,298,000 after buying an additional 25,650 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Bio-Techne by 12.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 736,340 shares of the biotechnology company’s stock worth $52,641,000 after buying an additional 79,629 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy E. Herr sold 1,860 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, the director now directly owns 1,976 shares of the company’s stock, valued at $130,336.96. The trade was a 48.49 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Bio-Techne Stock Performance

TECH opened at $48.10 on Friday. The firm has a fifty day moving average price of $59.93 and a 200 day moving average price of $69.08. Bio-Techne Co. has a 1 year low of $46.44 and a 1 year high of $85.57. The stock has a market cap of $7.60 billion, a P/E ratio of 48.59, a P/E/G ratio of 2.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share 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%. Equities research analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.67%. Bio-Techne’s dividend payout ratio is currently 32.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TECH shares. Evercore ISI started coverage on Bio-Techne in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $75.00 target price for the company. KeyCorp restated a “sector weight” rating on shares of Bio-Techne in a research note on Wednesday, April 9th. Citigroup dropped their target price on Bio-Techne from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Scotiabank raised their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.