GC Wealth Management RIA LLC Invests $805,000 in Bio-Techne Co. (NASDAQ:TECH)

GC Wealth Management RIA LLC bought a new position in Bio-Techne Co. (NASDAQ:TECH) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 11,172 shares of the biotechnology company’s stock, valued at approximately $805,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. S&CO Inc. boosted its holdings in shares of Bio-Techne by 0.8% in the 4th quarter. S&CO Inc. now owns 82,445 shares of the biotechnology company’s stock worth $5,938,000 after purchasing an additional 650 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Bio-Techne by 9.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 20,917 shares of the biotechnology company’s stock worth $1,507,000 after acquiring an additional 1,764 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Bio-Techne during the 4th quarter worth approximately $1,078,000. Amundi lifted its stake in shares of Bio-Techne by 72.0% during the 4th quarter. Amundi now owns 277,925 shares of the biotechnology company’s stock worth $20,897,000 after acquiring an additional 116,331 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Bio-Techne by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 92,910 shares of the biotechnology company’s stock worth $6,692,000 after acquiring an additional 2,568 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Insider Transactions at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction 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 in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the transaction, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Bio-Techne Trading Down 2.3 %

Shares of NASDAQ TECH opened at $62.90 on Tuesday. The firm has a market cap of $9.94 billion, a PE ratio of 63.54, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a twelve month low of $58.98 and a twelve month high of $85.57. The business has a fifty day simple moving average of $70.61 and a two-hundred day simple moving average of $72.68.

Bio-Techne (NASDAQ:TECH) last released its quarterly 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%. Analysts expect that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, February 14th. Bio-Techne’s payout ratio is 32.32%.

Analyst Upgrades and Downgrades

TECH has been the subject of a number of research analyst reports. Citigroup decreased their price target on Bio-Techne from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. StockNews.com lowered Bio-Techne from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada raised their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Robert W. Baird lowered Bio-Techne from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. Finally, Baird R W lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne has a consensus rating of “Hold” and an average price target of $82.14.

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.