Sei Investments Co. Boosts Position in Bio-Techne Co. (NASDAQ:TECH)

Sei Investments Co. raised its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 563,157 shares of the biotechnology company's stock after purchasing an additional 36,589 shares during the period. Sei Investments Co. owned 0.35% of Bio-Techne worth $40,564,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TECH. UMB Bank n.a. increased its holdings in Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock valued at $38,000 after buying an additional 168 shares during the period. Brooklyn Investment Group bought a new position in shares of Bio-Techne in the 3rd quarter worth $39,000. Quest Partners LLC purchased a new stake in shares of Bio-Techne during the 3rd quarter worth $43,000. MassMutual Private Wealth & Trust FSB boosted its position 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 purchasing an additional 253 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Bio-Techne by 35.0% in the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Performance

NASDAQ:TECH traded down $0.53 during mid-day trading on Wednesday, hitting $59.45. The company's stock had a trading volume of 635,316 shares, compared to its average volume of 1,077,123. The business's fifty day moving average is $67.54 and its two-hundred day moving average is $71.73. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 60.08, a PEG ratio of 2.88 and a beta of 1.30. Bio-Techne Co. has a 1 year low of $56.60 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77.

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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 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%. Analysts anticipate that Bio-Techne Co. will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, February 14th. Bio-Techne's dividend payout ratio (DPR) is 32.32%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TECH. Citigroup lowered their target price on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. KeyCorp upped their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Scotiabank lifted 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 note on Thursday, February 6th. Royal Bank of Canada upped 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 note on Thursday, February 6th. Finally, Baird R W downgraded shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.25.

Insider Buying and Selling

In related news, Director Amy E. Herr sold 1,860 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the completion of the transaction, the director now owns 1,976 shares of the company's stock, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the sale, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

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.