Raymond James Financial Services Advisors Inc. Sells 358 Shares of Bio-Techne Co. (NASDAQ:TECH)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,996 shares of the biotechnology company’s stock after selling 358 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Bio-Techne were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TECH. Morgan Stanley boosted its holdings in shares of Bio-Techne by 4.5% in the third quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company’s stock worth $225,028,000 after acquiring an additional 143,716 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Bio-Techne by 13.8% in the third quarter. Bank of New York Mellon Corp now owns 2,476,552 shares of the biotechnology company’s stock worth $168,579,000 after acquiring an additional 300,903 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Bio-Techne by 9.4% in the third quarter. Mackenzie Financial Corp now owns 2,329,033 shares of the biotechnology company’s stock worth $154,881,000 after acquiring an additional 200,032 shares during the period. Invesco Ltd. boosted its holdings in shares of Bio-Techne by 14.8% in the third quarter. Invesco Ltd. now owns 1,880,812 shares of the biotechnology company’s stock worth $128,027,000 after acquiring an additional 241,771 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Bio-Techne by 2.4% in the third quarter. Northern Trust Corp now owns 1,627,073 shares of the biotechnology company’s stock worth $110,755,000 after acquiring an additional 38,223 shares during the period. 98.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Roeland Nusse sold 10,400 shares of the firm’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 sale, the director now directly owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Bio-Techne Stock Up 1.1 %

TECH opened at $62.80 on Tuesday. The company has a market cap of $9.87 billion, a P/E ratio of 45.51, a P/E/G ratio of 7.73 and a beta of 1.22. The business’s 50-day moving average price is $70.35 and its 200-day moving average price is $68.61. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91.

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

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. Bio-Techne’s payout ratio is presently 23.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TECH. Scotiabank initiated coverage on Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective for the company. Stephens lowered their price target 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. Royal Bank of Canada lowered their price target 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. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $83.90.

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.