20,085 Shares in Bio-Techne Co. (NASDAQ:TECH) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new stake in Bio-Techne Co. (NASDAQ:TECH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,085 shares of the biotechnology company’s stock, valued at approximately $1,447,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TECH. State Street Corp raised its holdings in shares of Bio-Techne by 1.5% during the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock valued at $511,232,000 after buying an additional 95,133 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Bio-Techne by 21.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock valued at $147,002,000 after acquiring an additional 354,478 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $105,574,000 after purchasing an additional 51,687 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Bio-Techne during the third quarter worth $89,724,000. Finally, American Capital Management Inc. boosted its stake in shares of Bio-Techne by 2.5% in 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 period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Bio-Techne stock opened at $60.61 on Friday. The company has a market cap of $9.58 billion, a PE ratio of 61.22, a P/E/G ratio of 2.88 and a beta of 1.30. Bio-Techne Co. has a 12 month low of $56.60 and a 12 month high of $85.57. The company has a fifty day moving average price of $68.15 and a two-hundred day moving average price of $71.88. 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 (NASDAQ:TECH) last posted its quarterly 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 net margin of 13.22% and a return on equity of 12.73%. Research analysts expect that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, February 14th. Bio-Techne’s payout ratio is 32.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TECH shares. 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 report on Tuesday, March 4th. Robert W. Baird cut Bio-Techne from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $88.00 to $68.00 in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. KeyCorp increased their target price on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Scotiabank lifted their price target 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Insider Buying and Selling

In other Bio-Techne news, 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 sale, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

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.