Sei Investments Co. Has $40.56 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Sei Investments Co. lifted its position in Bio-Techne Co. (NASDAQ:TECH) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 563,157 shares of the biotechnology company’s stock after buying an additional 36,589 shares during the quarter. Sei Investments Co.’s holdings in Bio-Techne were worth $40,564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its position in Bio-Techne by 1.5% in the third quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock worth $511,232,000 after acquiring an additional 95,133 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Bio-Techne by 21.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock worth $147,002,000 after purchasing an additional 354,478 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 valued at $105,574,000 after purchasing an additional 51,687 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Bio-Techne in the third quarter valued at approximately $89,724,000. Finally, American Capital Management Inc. lifted 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 worth $89,073,000 after buying an additional 27,508 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the topic of a number of research analyst reports. 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. Scotiabank raised their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 6th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. KeyCorp raised their price target 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. Finally, Robert W. Baird downgraded Bio-Techne from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Insider Activity at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred on Monday, January 27th. The stock was 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 of the company’s stock, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy E. Herr sold 1,860 shares of the company’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 directly owns 1,976 shares of the company’s stock, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Bio-Techne Price Performance

Shares of TECH stock opened at $61.07 on Tuesday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 61.69, a PEG 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 quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $67.84 and a 200 day moving average price of $71.81.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (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%. Research analysts expect that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

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

Bio-Techne 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.