Bio-Techne Co. (NASDAQ:TECH) Shares Bought by AIA Group Ltd

AIA Group Ltd raised its stake in shares of Bio-Techne Co. (NASDAQ:TECHGet Rating) by 65.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 418 shares of the biotechnology company’s stock after acquiring an additional 165 shares during the quarter. AIA Group Ltd’s holdings in Bio-Techne were worth $181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Confluence Wealth Services Inc. purchased a new position in Bio-Techne during the fourth quarter valued at $33,000. UMB Bank N A MO purchased a new position in Bio-Techne during the fourth quarter valued at $53,000. Ellevest Inc. lifted its holdings in Bio-Techne by 56.5% during the first quarter. Ellevest Inc. now owns 108 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 39 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of Bio-Techne by 162.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 126 shares of the biotechnology company’s stock worth $65,000 after buying an additional 78 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in shares of Bio-Techne in the fourth quarter worth about $78,000. 94.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TECH. Wells Fargo & Company downgraded shares of Bio-Techne from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $400.00 to $370.00 in a research note on Monday, April 25th. Stephens decreased their price target on shares of Bio-Techne from $500.00 to $480.00 and set an “overweight” rating on the stock in a research note on Friday. KeyCorp reduced their target price on shares of Bio-Techne from $600.00 to $500.00 in a research note on Thursday, May 5th. Robert W. Baird lowered their price objective on Bio-Techne from $500.00 to $470.00 in a research report on Friday. Finally, StockNews.com lowered Bio-Techne from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and an average price target of $489.17.

Insider Activity

In other news, Director John L. Higgins sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $364.31, for a total value of $364,310.00. Following the completion of the sale, the director now owns 4,606 shares of the company’s stock, valued at $1,678,011.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert V. Baumgartner purchased 300 shares of the stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average price of $352.55 per share, for a total transaction of $105,765.00. Following the completion of the transaction, the director now owns 10,106 shares of the company’s stock, valued at $3,562,870.30. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Higgins sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $364.31, for a total value of $364,310.00. Following the completion of the transaction, the director now directly owns 4,606 shares of the company’s stock, valued at $1,678,011.86. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ TECH opened at $382.97 on Friday. The company has a quick ratio of 2.79, a current ratio of 3.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 52-week low of $318.07 and a 52-week high of $543.85. The firm has a market cap of $15.03 billion, a P/E ratio of 69.89, a P/E/G ratio of 1.80 and a beta of 1.22. The business’s 50-day moving average price is $357.01 and its 200 day moving average price is $386.28.

Bio-Techne (NASDAQ:TECHGet Rating) last posted its earnings results on Thursday, August 4th. The biotechnology company reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.03). Bio-Techne had a net margin of 20.95% and a return on equity of 16.82%. The firm had revenue of $288.30 million during the quarter, compared to analyst estimates of $287.04 million. During the same period last year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Bio-Techne Co. will post 7.08 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Monday, August 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, August 12th. Bio-Techne’s dividend payout ratio (DPR) is currently 23.36%.

Bio-Techne Company Profile

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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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