Allstate Corp Takes $334,000 Position in Bio-Techne Co. (NASDAQ:TECH)

Allstate Corp purchased a new position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,639 shares of the biotechnology company's stock, valued at approximately $334,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TECH. UMB Bank n.a. raised 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 valued at $38,000 after purchasing an additional 168 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Bio-Techne by 60.4% in the 4th 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 last quarter. Versant Capital Management Inc lifted its position in Bio-Techne by 35.0% during the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after buying an additional 198 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Bio-Techne by 45.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,376 shares of the biotechnology company's stock worth $99,000 after buying an additional 429 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Bio-Techne by 59.4% in the 4th quarter. Jones Financial Companies Lllp now owns 2,096 shares of the biotechnology company's stock valued at $151,000 after acquiring an additional 781 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

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Insider Buying and Selling at Bio-Techne

In related news, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $65.96, for a total transaction of $122,685.60. Following the sale, the director now directly owns 1,976 shares of the company's stock, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

TECH has been the topic of a number of analyst reports. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research note on Friday. Royal Bank of Canada lifted their price objective 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. Baird R W cut shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. KeyCorp lifted their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Citigroup dropped their price objective on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Bio-Techne presently has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Bio-Techne Stock Performance

Shares of Bio-Techne stock traded up $0.59 on Monday, hitting $52.31. The stock had a trading volume of 3,815,798 shares, compared to its average volume of 1,143,262. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 52.84, a price-to-earnings-growth ratio of 2.88 and a beta of 1.45. 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 $48.91 and a twelve month high of $85.57. The business's 50 day moving average is $63.95 and its two-hundred day moving average is $70.58.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Analysts forecast that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. Bio-Techne's payout ratio is 32.32%.

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.