Gulf International Bank UK Ltd increased its position in Bio-Techne Co. (NASDAQ:TECH) by 22.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,843 shares of the biotechnology company’s stock after acquiring an additional 1,423 shares during the period. Gulf International Bank UK Ltd’s holdings in Bio-Techne were worth $3,800,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Bio-Techne by 14.3% in the second quarter. BlackRock Inc. now owns 5,228,672 shares of the biotechnology company’s stock worth $2,354,260,000 after buying an additional 654,082 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bio-Techne by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,733,181 shares of the biotechnology company’s stock worth $1,680,902,000 after buying an additional 21,019 shares in the last quarter. State Street Corp lifted its position in shares of Bio-Techne by 35.7% in the second quarter. State Street Corp now owns 1,215,684 shares of the biotechnology company’s stock worth $547,374,000 after buying an additional 319,530 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bio-Techne by 4.5% in the second quarter. Geode Capital Management LLC now owns 559,324 shares of the biotechnology company’s stock worth $251,512,000 after buying an additional 24,149 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Bio-Techne by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 534,544 shares of the biotechnology company’s stock worth $240,684,000 after buying an additional 7,260 shares in the last quarter. Hedge funds and other institutional investors own 92.57% of the company’s stock.
Shares of NASDAQ TECH opened at $390.11 on Friday. Bio-Techne Co. has a 12-month low of $311.03 and a 12-month high of $543.85. The stock’s fifty day simple moving average is $474.10 and its two-hundred day simple moving average is $483.88. The company has a current ratio of 4.06, a quick ratio of 3.18 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $15.33 billion, a PE ratio of 90.09, a price-to-earnings-growth ratio of 2.98 and a beta of 1.15.
The business also recently declared a quarterly dividend, which was paid on Friday, November 26th. Shareholders of record on Friday, November 12th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Wednesday, November 10th. Bio-Techne’s dividend payout ratio is currently 29.56%.
In other news, CFO James Hippel sold 662 shares of the firm’s stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $525.23, for a total transaction of $347,702.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kim Kelderman sold 500 shares of the firm’s stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $505.38, for a total value of $252,690.00. 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 over the last ninety days. 4.10% of the stock is owned by insiders.
A number of equities research analysts have issued reports on TECH shares. Zacks Investment Research downgraded Bio-Techne from a “hold” rating to a “sell” rating in a research report on Wednesday, December 8th. Robert W. Baird upped their price objective on Bio-Techne from $522.00 to $548.00 and gave the company an “outperform” rating in a research report on Wednesday, November 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $486.00.
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.
Read More: What are economic reports?
Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Techne Co. (NASDAQ:TECH).
Receive News & Ratings for Bio-Techne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne and related companies with MarketBeat.com's FREE daily email newsletter.