Semanteon Capital Management LP Takes Position in Bio-Techne Co. (NASDAQ:TECH)

Semanteon Capital Management LP acquired a new position in Bio-Techne Co. (NASDAQ:TECH) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 10,525 shares of the biotechnology company’s stock, valued at approximately $758,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TECH. Point72 Asset Management L.P. purchased a new position in shares of Bio-Techne in the 3rd quarter worth approximately $89,724,000. Raymond James Financial Inc. purchased a new position in shares of Bio-Techne in the 4th quarter worth approximately $44,479,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Bio-Techne by 21.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock worth $147,002,000 after buying an additional 354,478 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Bio-Techne in the 3rd quarter worth approximately $20,071,000. Finally, Proficio Capital Partners LLC grew its position in shares of Bio-Techne by 8,079.6% in the 4th quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company’s stock worth $17,469,000 after buying an additional 239,560 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 0.4 %

TECH stock opened at $60.61 on Friday. The firm’s fifty day simple moving average is $68.15 and its 200-day simple moving average is $71.88. The company has a market capitalization of $9.58 billion, a P/E ratio of 61.22, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30. 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.

Bio-Techne (NASDAQ:TECH) 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 net margin of 13.22% and a return on equity of 12.73%. As a group, equities research analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, February 14th. Bio-Techne’s dividend payout ratio (DPR) is currently 32.32%.

Insider Activity

In related news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $65.96, for a total transaction of $122,685.60. Following the completion of 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. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TECH shares. Royal Bank of Canada lifted their price objective on shares of Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Scotiabank boosted their target price on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 6th. KeyCorp boosted their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Evercore ISI assumed coverage on shares of Bio-Techne in a research report on Tuesday. They set an “outperform” rating and a $75.00 target price on the stock. Finally, StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.25.

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.