Rowlandmiller & PARTNERS.ADV Cuts Position in Bio-Techne Co. (NASDAQ:TECH)

Rowlandmiller & PARTNERS.ADV lessened its holdings in Bio-Techne Co. (NASDAQ:TECH) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,490 shares of the biotechnology company’s stock after selling 580 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Bio-Techne were worth $2,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $89,724,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Bio-Techne by 21.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock worth $147,002,000 after purchasing an additional 354,478 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $20,071,000. First Citizens Bank & Trust Co. raised its holdings in shares of Bio-Techne by 4,392.8% in the 4th quarter. First Citizens Bank & Trust Co. now owns 123,013 shares of the biotechnology company’s stock worth $8,861,000 after purchasing an additional 120,275 shares during the period. Finally, Broadcrest Asset Management LLC raised its holdings in shares of Bio-Techne by 100.0% in the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after purchasing an additional 100,000 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Amy E. Herr sold 1,860 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,976 shares in the company, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kim Kelderman sold 13,392 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on TECH. Baird R W cut shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. KeyCorp boosted their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Scotiabank boosted their target price on shares of Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a report on Thursday, February 6th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada boosted their target price 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. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.29.

Bio-Techne Trading Down 0.9 %

Bio-Techne stock opened at $64.92 on Monday. The stock has a market cap of $10.26 billion, a P/E ratio of 65.58, a PEG ratio of 2.88 and a beta of 1.27. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. The firm’s fifty day moving average price is $72.70 and its 200-day moving average price is $73.41. 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 (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing the consensus estimate 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 forecast that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be given a $0.08 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.49%. Bio-Techne’s dividend payout ratio (DPR) is presently 32.32%.

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.