Sanchez Wealth Management Group Sells 269 Shares of Bio-Techne Co. (NASDAQ:TECH)

Sanchez Wealth Management Group lowered its holdings in Bio-Techne Co. (NASDAQ:TECH) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,133 shares of the biotechnology company’s stock after selling 269 shares during the period. Bio-Techne makes up about 0.4% of Sanchez Wealth Management Group’s holdings, making the stock its 25th biggest position. Sanchez Wealth Management Group’s holdings in Bio-Techne were worth $1,522,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. UMB Bank n.a. boosted its holdings in shares of Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group purchased a new position in Bio-Techne during the third quarter valued at approximately $39,000. Quest Partners LLC bought a new stake in Bio-Techne during the 3rd quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its stake in Bio-Techne by 60.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 253 shares during the period. Finally, Mather Group LLC. increased its stake in Bio-Techne by 51.5% in the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 208 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $1,035,067.68. Following the sale, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.90% of the company’s stock.

Bio-Techne Trading Down 2.9 %

NASDAQ:TECH opened at $72.81 on Friday. The firm has a market capitalization of $11.57 billion, a P/E ratio of 73.55, a P/E/G ratio of 5.54 and a beta of 1.27. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. 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 company has a fifty day moving average of $74.61 and a 200 day moving average of $74.37.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share 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%. On average, research analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Bio-Techne’s dividend payout ratio is presently 32.32%.

Analysts Set New Price Targets

Several research analysts have recently commented on TECH shares. Scotiabank boosted their price objective on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday. Robert W. Baird lifted their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada increased 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. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, KeyCorp boosted their target price on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.57.

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.