Bio-Techne Co. (NASDAQ:TECH) Shares Purchased by Summit Creek Advisors LLC

Summit Creek Advisors LLC lifted its position in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,311 shares of the biotechnology company's stock after buying an additional 50,881 shares during the period. Bio-Techne comprises 2.9% of Summit Creek Advisors LLC's investment portfolio, making the stock its 10th largest position. Summit Creek Advisors LLC owned 0.19% of Bio-Techne worth $22,208,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TECH. Bradley Foster & Sargent Inc. CT grew its stake in shares of Bio-Techne by 1.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company's stock worth $778,000 after buying an additional 160 shares during the last quarter. UMB Bank n.a. grew its position in Bio-Techne by 46.4% during the 4th 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. Verdence Capital Advisors LLC increased its stake in Bio-Techne by 1.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 11,967 shares of the biotechnology company's stock valued at $862,000 after purchasing an additional 173 shares in the last quarter. Fifth Third Bancorp increased its stake in Bio-Techne by 2.3% during the 4th quarter. Fifth Third Bancorp now owns 8,394 shares of the biotechnology company's stock valued at $605,000 after purchasing an additional 189 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in Bio-Techne by 1.5% in the third quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company's stock worth $1,057,000 after buying an additional 198 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

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Bio-Techne Price Performance

TECH traded down $1.09 during trading on Tuesday, hitting $59.98. 1,454,467 shares of the company traded hands, compared to its average volume of 1,077,592. The company has a market cap of $9.48 billion, a PE ratio of 60.59, a P/E/G 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 current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14. The stock's 50-day simple moving average is $67.54 and its two-hundred day simple moving average is $71.73.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted 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%. As a group, sell-side analysts anticipate that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, February 14th. Bio-Techne's dividend payout ratio is 32.32%.

Analyst Ratings Changes

TECH has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Robert W. Baird lowered shares of Bio-Techne from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $88.00 to $68.00 in a research report on Wednesday, February 19th. KeyCorp boosted their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Baird R W downgraded shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Bio-Techne presently has an average rating of "Moderate Buy" and a consensus target price of $81.25.

Insider Activity at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction on Monday, January 27th. The stock was 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 owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction on Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the sale, the director now owns 1,976 shares of the company's stock, valued at approximately $130,336.96. This trade represents a 48.49 % 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.

About Bio-Techne

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.