Corient Private Wealth LLC Raises Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Corient Private Wealth LLC increased its holdings in Bio-Techne Co. (NASDAQ:TECH) by 4,482.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 633,790 shares of the biotechnology company’s stock after acquiring an additional 619,958 shares during the quarter. Corient Private Wealth LLC owned approximately 0.40% of Bio-Techne worth $48,903,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC increased its stake in Bio-Techne by 23.8% in the 4th quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 177 shares during the period. Czech National Bank increased its stake in Bio-Techne by 0.7% in the 4th quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock valued at $2,137,000 after buying an additional 181 shares during the period. First Horizon Advisors Inc. increased its stake in Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 191 shares during the period. State of Michigan Retirement System increased its stake in Bio-Techne by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock valued at $3,344,000 after buying an additional 200 shares during the period. Finally, Valley Wealth Managers Inc. increased its stake in Bio-Techne by 7.9% in the 3rd quarter. Valley Wealth Managers Inc. now owns 3,061 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 224 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bio-Techne

In other news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

Bio-Techne Price Performance

Shares of Bio-Techne stock traded up $0.08 on Wednesday, hitting $82.76. The company’s stock had a trading volume of 57,844 shares, compared to its average volume of 1,105,512. The company has a market capitalization of $13.04 billion, a P/E ratio of 65.62, a price-to-earnings-growth ratio of 9.91 and a beta of 1.23. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $71.34 and a 200-day moving average price of $70.38. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities research analysts expect that Bio-Techne Co. will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Analyst Ratings Changes

Several equities analysts have issued reports on TECH shares. Stephens dropped their price objective on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Robert W. Baird boosted their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.

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.