Barclays PLC Sells 60,285 Shares of Bio-Techne Co. (NASDAQ:TECH)

Barclays PLC cut its position in shares of Bio-Techne Co. (NASDAQ:TECH – Free Report) by 30.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,243 shares of the biotechnology company’s stock after selling 60,285 shares during the period. Barclays PLC’s holdings in Bio-Techne were worth $10,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TECH. Private Advisor Group LLC increased its position in shares of Bio-Techne by 31.2% during the first quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock valued at $680,000 after purchasing an additional 374 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Bio-Techne by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock valued at $2,276,000 after acquiring an additional 325 shares during the period. Raymond James Trust N.A. grew its position in Bio-Techne by 8.0% in the first quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock valued at $635,000 after acquiring an additional 108 shares during the period. Synovus Financial Corp grew its position in Bio-Techne by 13.3% in the first quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock valued at $848,000 after acquiring an additional 230 shares during the period. Finally, Aviva PLC grew its position in Bio-Techne by 9.9% in the first quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock valued at $7,491,000 after acquiring an additional 1,552 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

Bio-Techne stock opened at $84.30 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.84 and a current ratio of 4.04. Bio-Techne Co. has a 52 week low of $68.00 and a 52 week high of $96.47. The firm has a market cap of $13.27 billion, a P/E ratio of 50.48, a P/E/G ratio of 3.08 and a beta of 1.22. The business’s fifty day moving average is $81.31 and its two-hundred day moving average is $79.25.

Insider Activity

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In other news, CEO Charles R. Kummeth sold 80,000 shares of the company’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 transaction, the chief executive officer now owns 1,258,766 shares of the company’s stock, valued at $111,224,563.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TECH. Robert W. Baird upped their price target on Bio-Techne from $99.00 to $100.00 in a research report on Thursday, May 4th. StockNews.com began coverage on Bio-Techne in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.45.

Check Out Our Latest Report on Bio-Techne

About Bio-Techne

(Free Report)

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.