Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. trimmed its stake in Bio-Techne Co. (NASDAQ:TECH) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,819 shares of the biotechnology company’s stock after selling 191 shares during the quarter. Fulton Bank N.A.’s holdings in Bio-Techne were worth $417,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after purchasing an additional 2,755,065 shares during the period. Brown Capital Management LLC lifted its holdings in shares of Bio-Techne by 12.4% in the fourth quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock valued at $273,994,000 after purchasing an additional 392,986 shares in the last quarter. Mairs & Power Inc. increased its stake in shares of Bio-Techne by 0.8% in the fourth quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock worth $237,613,000 after acquiring an additional 25,903 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bio-Techne by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company’s stock valued at $201,493,000 after purchasing an additional 351,645 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Bio-Techne by 3.0% in the fourth quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company’s stock worth $185,132,000 after buying an additional 70,294 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TECH. Benchmark reaffirmed a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Robert W. Baird lifted their target price on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $81.00.

Bio-Techne Stock Down 7.4 %

Shares of NASDAQ TECH traded down $5.77 during trading on Wednesday, hitting $72.65. 1,252,337 shares of the company traded hands, compared to its average volume of 1,072,373. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.85. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 58.39, a P/E/G ratio of 8.37 and a beta of 1.29. The business’s fifty day moving average is $76.17 and its 200 day moving average is $73.43. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.44%. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

About Bio-Techne

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.