Bank of New York Mellon Corp Has $175.13 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Bank of New York Mellon Corp lessened its position in Bio-Techne Co. (NASDAQ:TECH) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,431,309 shares of the biotechnology company’s stock after selling 11,006 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.53% of Bio-Techne worth $175,127,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bio-Techne by 46.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company’s stock valued at $1,215,000 after purchasing an additional 5,295 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Bio-Techne by 58.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company’s stock valued at $3,119,000 after purchasing an additional 16,038 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Bio-Techne in the 3rd quarter valued at $1,188,000. Broadcrest Asset Management LLC lifted its position in Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after buying an additional 100,000 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Bio-Techne during the 3rd quarter worth about $43,000. Institutional investors own 98.95% of the company’s stock.

Insider Transactions at Bio-Techne

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the transaction, the director now owns 1,976 shares in the company, valued at $130,336.96. This trade represents a 48.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction 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 sale, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This represents a 25.56 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank upped their target price on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 6th. Baird R W cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. KeyCorp raised 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 upped 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. Finally, Robert W. Baird cut shares of Bio-Techne from an “outperform” rating to a “neutral” rating and cut their price target for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.29.

Bio-Techne Trading Down 4.6 %

TECH stock opened at $61.23 on Friday. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 61.85, a price-to-earnings-growth ratio of 2.88 and a beta of 1.27. The company has a fifty day moving average price of $72.12 and a two-hundred day moving average price of $73.24. Bio-Techne Co. has a one year low of $61.06 and a one year high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77.

Bio-Techne (NASDAQ:TECH) last announced its 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 return on equity of 12.73% and a net margin of 13.22%. Equities analysts anticipate that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, February 14th. Bio-Techne’s payout ratio is 32.32%.

About Bio-Techne

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.