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

Sei Investments Co. lifted its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 563,157 shares of the biotechnology company’s stock after acquiring an additional 36,589 shares during the period. Sei Investments Co. owned about 0.35% of Bio-Techne worth $40,564,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TECH. State Street Corp increased its stake in Bio-Techne by 1.5% during the third quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock valued at $511,232,000 after purchasing an additional 95,133 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Bio-Techne by 21.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock valued at $147,002,000 after buying an additional 354,478 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Bio-Techne by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,465,690 shares of the biotechnology company’s stock worth $105,574,000 after acquiring an additional 51,687 shares during the period. Point72 Asset Management L.P. bought a new position in Bio-Techne in the third quarter worth about $89,724,000. Finally, American Capital Management Inc. grew its holdings in shares of Bio-Techne by 2.5% during the third quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company’s stock valued at $89,073,000 after purchasing an additional 27,508 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bio-Techne

In other 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 transaction, the director now owns 1,976 shares in the company, valued at $130,336.96. This represents a 48.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Bio-Techne Trading Up 0.8 %

NASDAQ:TECH opened at $61.07 on Tuesday. The stock has a fifty day simple moving average of $67.84 and a 200 day simple moving average of $71.81. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 61.69, a price-to-earnings-growth 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 quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last announced its earnings results 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%. Sell-side analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, February 14th. Bio-Techne’s payout ratio is 32.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore ISI started coverage on Bio-Techne in a research report on Tuesday, March 18th. They set an “outperform” rating and a $75.00 price objective for the company. Scotiabank boosted their target price on shares of Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 6th. Robert W. Baird cut Bio-Techne from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $88.00 to $68.00 in a report on Wednesday, February 19th. Citigroup lowered their target price on Bio-Techne from $80.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, KeyCorp raised their price objective 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. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.