Spire Wealth Management lifted its stake in shares of Bio-Techne Co. (NASDAQ:TECH – Free Report) by 22,082.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,158 shares of the biotechnology company’s stock after purchasing an additional 35,995 shares during the quarter. Spire Wealth Management’s holdings in Bio-Techne were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in TECH. Private Advisor Group LLC raised its position in shares of Bio-Techne by 31.2% during the 1st quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock worth $680,000 after purchasing an additional 374 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Bio-Techne by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock worth $2,276,000 after buying an additional 325 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Bio-Techne by 8.0% in the 1st quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock worth $635,000 after buying an additional 108 shares in the last quarter. Synovus Financial Corp grew its holdings in Bio-Techne by 13.3% in the 1st quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock worth $848,000 after buying an additional 230 shares in the last quarter. Finally, Aviva PLC grew its holdings in Bio-Techne by 9.9% in the 1st quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock worth $7,491,000 after buying an additional 1,552 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on TECH shares. StockNews.com started coverage on Bio-Techne in a report on Thursday, May 18th. They issued a “hold” rating for the company. Stephens reissued an “overweight” rating and issued a $100.00 price objective on shares of Bio-Techne in a report on Wednesday, August 9th. Finally, Robert W. Baird decreased their price target on Bio-Techne from $100.00 to $90.00 in a research note on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.09.
Bio-Techne Stock Performance
TECH opened at $84.81 on Tuesday. The firm has a market cap of $13.35 billion, a PE ratio of 48.12, a P/E/G ratio of 3.96 and a beta of 1.22. The company has a quick ratio of 3.50, a current ratio of 4.84 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $81.43 and a 200-day simple moving average of $79.34. Bio-Techne Co. has a fifty-two week low of $68.00 and a fifty-two week high of $96.24.
Bio-Techne Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, August 17th. Bio-Techne’s dividend payout ratio is presently 18.16%.
Insider Transactions at Bio-Techne
In other news, CEO Charles R. Kummeth sold 80,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $88.36, for a total transaction of $7,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,258,766 shares of the company’s stock, valued at approximately $111,224,563.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.45% of the company’s stock.
Bio-Techne Company 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 worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.