Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Bio-Techne Co. (NASDAQ:TECH) by 10.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,865 shares of the biotechnology company’s stock after buying an additional 24,816 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Bio-Techne worth $18,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Bio-Techne during the third quarter worth approximately $43,000. Townsquare Capital LLC increased its position in shares of Bio-Techne by 13.5% during the 3rd quarter. Townsquare Capital LLC now owns 6,883 shares of the biotechnology company’s stock valued at $550,000 after purchasing an additional 820 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Bio-Techne during the 3rd quarter valued at $434,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bio-Techne by 22.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,735 shares of the biotechnology company’s stock worth $2,776,000 after buying an additional 6,462 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bio-Techne by 2.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 754,344 shares of the biotechnology company’s stock worth $60,295,000 after buying an additional 20,277 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Trading Down 2.0 %

TECH opened at $58.73 on Monday. 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’s fifty day moving average is $66.56 and its two-hundred day moving average is $71.44. The company has a market capitalization of $9.28 billion, a P/E ratio of 59.32, a PEG ratio of 2.88 and a beta of 1.30. Bio-Techne Co. has a 52 week low of $56.60 and a 52 week high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS 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%. Analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. Bio-Techne’s dividend payout ratio is currently 32.32%.

Insider Activity

In related news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TECH shares. Evercore ISI started coverage on shares of Bio-Techne in a report on Tuesday, March 18th. They issued an “outperform” rating and a $75.00 target price for the company. Citigroup decreased their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Robert W. Baird cut Bio-Techne from an “outperform” rating to a “neutral” rating and cut their target price for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Royal Bank of Canada raised their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, Scotiabank boosted their price objective on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

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.