Naples Global Advisors LLC Trims Holdings in Bio-Techne Co. (NASDAQ:TECH)

Naples Global Advisors LLC lowered its position in Bio-Techne Co. (NASDAQ:TECH) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,650 shares of the biotechnology company’s stock after selling 150 shares during the period. Naples Global Advisors LLC’s holdings in Bio-Techne were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group purchased a new position in shares of Bio-Techne during the third quarter worth $39,000. Quest Partners LLC acquired a new position in Bio-Techne during the third quarter valued at $43,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Bio-Techne by 60.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 253 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Bio-Techne by 35.0% during the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the subject of several analyst reports. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp boosted their price target on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Scotiabank raised their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research note 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 increased their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Insider Buying and Selling

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.90% of the stock is currently owned by insiders.

Bio-Techne Stock Down 1.0 %

Bio-Techne stock opened at $66.77 on Friday. Bio-Techne Co. has a 12 month low of $61.16 and a 12 month high of $85.57. The stock has a market capitalization of $10.61 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 5.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 3.26. The business has a 50 day simple moving average of $74.14 and a 200-day simple moving average of $74.11.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, analysts anticipate that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Friday, February 14th. Bio-Techne’s dividend payout ratio is presently 32.32%.

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.