Corient Private Wealth LLC Has $43.14 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Corient Private Wealth LLC reduced its position in Bio-Techne Co. (NASDAQ:TECH) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 598,918 shares of the biotechnology company’s stock after selling 38,188 shares during the quarter. Corient Private Wealth LLC’s holdings in Bio-Techne were worth $43,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV raised its position in Bio-Techne by 41.7% during the third quarter. KBC Group NV now owns 19,043 shares of the biotechnology company’s stock valued at $1,522,000 after acquiring an additional 5,601 shares in the last quarter. Huntington National Bank raised its holdings in shares of Bio-Techne by 38.5% during the 3rd quarter. Huntington National Bank now owns 756 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 210 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of Bio-Techne by 3.5% in the 3rd quarter. Metis Global Partners LLC now owns 6,647 shares of the biotechnology company’s stock valued at $531,000 after purchasing an additional 226 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Bio-Techne by 8.1% in the third quarter. CIBC Asset Management Inc now owns 22,959 shares of the biotechnology company’s stock worth $1,835,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Bio-Techne by 4.1% during the third quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock worth $326,000 after buying an additional 160 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

NASDAQ TECH opened at $62.58 on Tuesday. Bio-Techne Co. has a twelve month low of $56.60 and a twelve month high of $85.57. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The stock has a market cap of $9.89 billion, a P/E ratio of 63.21, a PEG ratio of 2.88 and a beta of 1.30. The company’s 50-day simple moving average is $69.22 and its 200 day simple moving average is $72.21.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data 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 net margin of 13.22% and a return on equity of 12.73%. As a group, research analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.51%. Bio-Techne’s dividend payout ratio is currently 32.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp upped their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Robert W. Baird lowered shares of Bio-Techne from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. Finally, Scotiabank lifted their target price on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.14.

Insider Buying and Selling at Bio-Techne

In other news, Director Amy E. Herr sold 1,860 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $65.96, for a total transaction of $122,685.60. Following the completion of the sale, the director now owns 1,976 shares of the company’s stock, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

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.