Summit Trail Advisors LLC Acquires New Position in Bio-Techne Co. (NASDAQ:TECH)

Summit Trail Advisors LLC acquired a new position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,474 shares of the biotechnology company's stock, valued at approximately $322,000.

A number of other large investors also recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in Bio-Techne in the third quarter valued at about $89,724,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Bio-Techne by 21.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company's stock worth $147,002,000 after buying an additional 354,478 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Bio-Techne in the third quarter valued at approximately $20,071,000. First Citizens Bank & Trust Co. grew its position in Bio-Techne by 4,392.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 123,013 shares of the biotechnology company's stock worth $8,861,000 after acquiring an additional 120,275 shares in the last quarter. Finally, Broadcrest Asset Management LLC raised its holdings in shares of Bio-Techne by 100.0% during the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company's stock valued at $15,986,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Trading Down 1.2 %

TECH stock traded down $0.83 during midday trading on Friday, reaching $65.94. The stock had a trading volume of 1,172,566 shares, compared to its average volume of 1,235,146. The company has a quick ratio of 3.26, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month high of $85.57. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 5.54 and a beta of 1.27. The business has a fifty day simple moving average of $73.82 and a two-hundred day simple moving average of $73.85.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its 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 net margin of 13.22% and a return on equity of 12.73%. As a group, research analysts expect that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 17th will be issued 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 yield of 0.49%. Bio-Techne's dividend payout ratio is presently 32.32%.

Insider Buying and Selling at Bio-Techne

In other news, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares of the company's stock, valued at $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on TECH shares. Scotiabank increased their target price on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 6th. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Royal Bank of Canada lifted their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Robert W. Baird raised their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, KeyCorp lifted their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Bio-Techne has an average rating of "Moderate Buy" and a consensus price target 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.