Allspring Global Investments Holdings LLC Has $52.64 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Allspring Global Investments Holdings LLC raised its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 736,340 shares of the biotechnology company’s stock after purchasing an additional 79,629 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bio-Techne were worth $52,641,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp grew its position in shares of Bio-Techne by 1.5% during the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock worth $511,232,000 after buying an additional 95,133 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Bio-Techne by 21.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock valued at $147,002,000 after purchasing an additional 354,478 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Bio-Techne during the 3rd quarter valued at about $89,724,000. American Capital Management Inc. lifted its holdings in shares of Bio-Techne by 2.5% during the 3rd quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company’s stock valued at $89,073,000 after purchasing an additional 27,508 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of Bio-Techne by 1.6% during the 3rd quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock valued at $88,267,000 after purchasing an additional 17,114 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Trading Down 1.0 %

Shares of Bio-Techne stock opened at $66.77 on Friday. Bio-Techne Co. has a 12-month low of $61.16 and a 12-month high of $85.57. The stock has a market cap of $10.61 billion, a P/E ratio of 67.44, a P/E/G ratio of 5.54 and a beta of 1.27. The company has a quick ratio of 3.26, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $74.14 and its 200-day moving average is $74.11.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. Equities research analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Friday, February 14th. Bio-Techne’s payout ratio is presently 32.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TECH shares. Scotiabank lifted their price objective on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. KeyCorp boosted their target price on 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 boosted their target price on Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird boosted their target price on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $86.57.

Insider Buying and Selling

In related news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the transaction, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by insiders.

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.