Semanteon Capital Management LP Invests $758,000 in Bio-Techne Co. (NASDAQ:TECH)

Semanteon Capital Management LP purchased a new position in Bio-Techne Co. (NASDAQ:TECH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,525 shares of the biotechnology company's stock, valued at approximately $758,000.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its position in Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 168 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Bio-Techne in the 3rd quarter worth about $39,000. Quest Partners LLC purchased a new stake in shares of Bio-Techne during the 3rd quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 acquiring an additional 253 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Bio-Techne by 35.0% in the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Insiders Place Their Bets

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the company'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 sale, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at $130,336.96. This 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 owned by company insiders.

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Analyst Ratings Changes

TECH has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Citigroup cut their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Baird R W lowered shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Evercore ISI began coverage on shares of Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target on the stock. Finally, KeyCorp raised their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. 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, the company has an average rating of "Moderate Buy" and an average target price of $81.25.

Bio-Techne Trading Down 1.0 %

Shares of NASDAQ:TECH traded down $0.60 during trading on Wednesday, reaching $59.38. 1,912,909 shares of the company were exchanged, compared to its average volume of 1,082,031. The business's fifty day simple moving average is $67.54 and its 200-day simple moving average is $71.73. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77. Bio-Techne Co. has a 12-month low of $56.60 and a 12-month high of $85.57. The firm has a market capitalization of $9.39 billion, a PE ratio of 59.98, a P/E/G ratio of 2.88 and a beta of 1.30.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data 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 return on equity of 12.73% and a net margin of 13.22%. On average, research analysts anticipate that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, February 14th. Bio-Techne's dividend payout ratio (DPR) is presently 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.