Allspring Global Investments Holdings LLC Grows Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Allspring Global Investments Holdings LLC lifted its stake in Bio-Techne Co. (NASDAQ:TECH) by 14.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,309,295 shares of the biotechnology company’s stock after purchasing an additional 170,100 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Bio-Techne were worth $101,025,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG boosted its stake in Bio-Techne by 11.1% during the third quarter. Deutsche Bank AG now owns 611,813 shares of the biotechnology company’s stock worth $41,646,000 after buying an additional 61,190 shares during the period. Nordea Investment Management AB raised its holdings in shares of Bio-Techne by 7.8% in the 4th quarter. Nordea Investment Management AB now owns 10,494 shares of the biotechnology company’s stock valued at $815,000 after buying an additional 761 shares during the period. Andra AP fonden lifted its stake in Bio-Techne by 113.4% during the 3rd quarter. Andra AP fonden now owns 39,900 shares of the biotechnology company’s stock worth $2,716,000 after acquiring an additional 21,200 shares in the last quarter. Diversified Trust Co boosted its holdings in Bio-Techne by 32.6% during the 3rd quarter. Diversified Trust Co now owns 12,826 shares of the biotechnology company’s stock valued at $873,000 after acquiring an additional 3,156 shares during the period. Finally, Sei Investments Co. grew its position in Bio-Techne by 2.2% in the 3rd quarter. Sei Investments Co. now owns 737,219 shares of the biotechnology company’s stock valued at $50,182,000 after acquiring an additional 15,633 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the sale, the director now directly owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TECH. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. Stephens reduced their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Royal Bank of Canada reduced their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Finally, Scotiabank initiated coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Three investment 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 company has an average rating of “Moderate Buy” and an average price target of $84.11.

Bio-Techne Trading Up 2.2 %

NASDAQ:TECH opened at $69.74 on Tuesday. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The stock’s 50 day moving average price is $70.92 and its 200 day moving average price is $68.76. The company has a market capitalization of $10.96 billion, a PE ratio of 49.43, a P/E/G ratio of 7.58 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last announced 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). Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. The business had revenue of $272.60 million for the quarter, compared to analysts’ expectations of $277.48 million. On average, research analysts anticipate that Bio-Techne Co. will post 1.53 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were issued a $0.08 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. Bio-Techne’s payout ratio is 23.19%.

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 in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.