Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 20.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633,231 shares of the biotechnology company's stock after selling 166,001 shares during the period. Sei Investments Co. owned 0.40% of Bio-Techne worth $45,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TECH. Price T Rowe Associates Inc. MD lifted its position in Bio-Techne by 92.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company's stock valued at $404,470,000 after acquiring an additional 2,755,065 shares during the last quarter. Brown Capital Management LLC boosted its position in shares of Bio-Techne by 12.4% in the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company's stock worth $273,994,000 after purchasing an additional 392,986 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Bio-Techne by 14.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company's stock worth $201,493,000 after buying an additional 351,645 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock worth $122,879,000 after buying an additional 290,510 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Bio-Techne during the 4th quarter valued at about $22,067,000. Institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Performance

Shares of NASDAQ TECH traded down $1.09 during trading on Monday, reaching $77.21. 735,678 shares of the company traded hands, compared to its average volume of 1,043,354. The stock has a market cap of $12.17 billion, a P/E ratio of 61.27, a PEG ratio of 5.06 and a beta of 1.27. The firm's fifty day simple moving average is $75.25 and its 200 day simple moving average is $73.98. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $85.57.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same quarter in the prior year, the firm posted $0.56 EPS. The business's quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Bio-Techne Co. will post 1.71 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, August 19th. Bio-Techne's payout ratio is currently 25.40%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TECH. Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 8th. Robert W. Baird upped their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Finally, Benchmark reiterated a "buy" rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.60.

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.