SVB Wealth LLC Sells 25,151 Shares of Bio-Techne Co. (NASDAQ:TECH)

SVB Wealth LLC reduced its stake in Bio-Techne Co. (NASDAQ:TECH) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,653 shares of the biotechnology company’s stock after selling 25,151 shares during the period. SVB Wealth LLC’s holdings in Bio-Techne were worth $5,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Wetherby Asset Management Inc. grew its stake in shares of Bio-Techne by 4.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 737 shares of the biotechnology company’s stock valued at $319,000 after purchasing an additional 34 shares during the period. Evercore Wealth Management LLC grew its position in Bio-Techne by 9.3% during the 1st quarter. Evercore Wealth Management LLC now owns 575 shares of the biotechnology company’s stock worth $249,000 after acquiring an additional 49 shares during the last quarter. Toroso Investments LLC grew its position in Bio-Techne by 4.8% during the 3rd quarter. Toroso Investments LLC now owns 1,266 shares of the biotechnology company’s stock worth $360,000 after acquiring an additional 58 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Bio-Techne by 4.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,406 shares of the biotechnology company’s stock worth $399,000 after acquiring an additional 66 shares during the last quarter. Finally, Pearl River Capital LLC grew its position in Bio-Techne by 5.6% during the 1st quarter. Pearl River Capital LLC now owns 1,326 shares of the biotechnology company’s stock worth $574,000 after acquiring an additional 70 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TECH. Stephens reduced their price objective on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Scotiabank initiated coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price target on the stock. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Friday, February 2nd. Finally, Royal Bank of Canada cut their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $64.01 on Wednesday. The company has a market capitalization of $10.06 billion, a PE ratio of 46.38, a PEG ratio of 7.41 and a beta of 1.22. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $70.80 and its 200 day simple moving average is $68.74.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $272.60 million for the quarter, compared to the consensus estimate of $277.48 million. Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. On average, research analysts predict that Bio-Techne Co. will post 1.53 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s payout ratio is 23.19%.

Insider Activity

In other news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the transaction, the director now owns 43,097 shares in the company, valued at approximately $3,317,607.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is owned by corporate insiders.

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.