Bio-Techne Co. (NASDAQ:TECH) Shares Purchased by Spire Wealth Management

Spire Wealth Management raised its position in Bio-Techne Co. (NASDAQ:TECH) by 38,075.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 59,172 shares of the biotechnology company’s stock after purchasing an additional 59,017 shares during the period. Spire Wealth Management’s holdings in Bio-Techne were worth $4,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI lifted its stake in Bio-Techne by 9.8% in the fourth quarter. National Bank of Canada FI now owns 36,942 shares of the biotechnology company’s stock worth $2,834,000 after acquiring an additional 3,312 shares during the last quarter. M&T Bank Corp boosted its holdings in Bio-Techne by 1.8% during the fourth quarter. M&T Bank Corp now owns 13,224 shares of the biotechnology company’s stock worth $1,020,000 after buying an additional 235 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in Bio-Techne by 5.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 14,893 shares of the biotechnology company’s stock valued at $1,149,000 after acquiring an additional 786 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in Bio-Techne by 28.3% in the 4th quarter. Natixis Advisors L.P. now owns 284,192 shares of the biotechnology company’s stock valued at $21,928,000 after purchasing an additional 62,632 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings 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 acquiring an additional 191 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Trading Up 0.8 %

NASDAQ:TECH traded up $0.63 during trading hours on Tuesday, hitting $76.69. 56,324 shares of the stock were exchanged, compared to its average volume of 1,104,620. The company’s 50 day moving average is $69.84 and its two-hundred day moving average is $68.66. The company has a market capitalization of $12.05 billion, a P/E ratio of 60.37, a price-to-earnings-growth ratio of 9.08 and a beta of 1.23. Bio-Techne Co. has a twelve month low of $51.79 and a twelve month high of $89.91. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business had revenue of $303.43 million for the quarter, compared to the consensus estimate of $292.36 million. During the same period last year, the company posted $0.47 EPS. Bio-Techne’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bio-Techne Co. will post 1.52 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. Investors of record on Monday, May 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, May 10th. Bio-Techne’s dividend payout ratio is presently 25.40%.

Analyst Upgrades and Downgrades

TECH has been the topic of several research reports. Royal Bank of Canada cut their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Friday, February 2nd. Robert W. Baird increased their target price on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Insider Transactions at Bio-Techne

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

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.