Skandinaviska Enskilda Banken AB publ cut its stake in Bio-Techne Co. (NASDAQ:TECH) by 5.0% in the third quarter, Holdings Channel.com reports. The firm owned 13,300 shares of the biotechnology company’s stock after selling 699 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Bio-Techne were worth $6,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of the business. CAPROCK Group Inc. lifted its holdings in shares of Bio-Techne by 0.7% during the 3rd quarter. CAPROCK Group Inc. now owns 3,222 shares of the biotechnology company’s stock worth $1,561,000 after acquiring an additional 23 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Bio-Techne by 2.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 1,275 shares of the biotechnology company’s stock worth $618,000 after purchasing an additional 25 shares in the last quarter. Utah Retirement Systems increased its position in shares of Bio-Techne by 0.4% during the 2nd quarter. Utah Retirement Systems now owns 7,409 shares of the biotechnology company’s stock worth $3,336,000 after purchasing an additional 32 shares in the last quarter. Greenleaf Trust increased its position in shares of Bio-Techne by 4.9% during the 2nd quarter. Greenleaf Trust now owns 725 shares of the biotechnology company’s stock worth $326,000 after purchasing an additional 34 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Bio-Techne by 1.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 2,097 shares of the biotechnology company’s stock worth $1,016,000 after purchasing an additional 34 shares in the last quarter. 92.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:TECH opened at $390.11 on Friday. Bio-Techne Co. has a one year low of $311.03 and a one year high of $543.85. The company has a 50 day moving average of $474.10 and a 200-day moving average of $483.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.06 and a quick ratio of 3.18. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 90.09, a P/E/G ratio of 2.98 and a beta of 1.15.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 26th. Investors of record on Friday, November 12th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.33%. The ex-dividend date was Wednesday, November 10th. Bio-Techne’s payout ratio is 29.56%.
In other Bio-Techne news, CFO James Hippel sold 662 shares of Bio-Techne stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $525.23, for a total value of $347,702.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Norman David Eansor sold 27,159 shares of Bio-Techne stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $504.00, for a total transaction of $13,688,136.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,321 shares of company stock worth $14,288,528 in the last three months. 4.10% of the stock is owned by insiders.
A number of brokerages recently issued reports on TECH. Zacks Investment Research cut shares of Bio-Techne from a “hold” rating to a “sell” rating in a research report on Wednesday, December 8th. Robert W. Baird raised their price objective on shares of Bio-Techne from $522.00 to $548.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $486.00.
Bio-Techne Company Profile
Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics &Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.
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