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

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

Several other large investors have also recently made changes to their positions in TECH. Point72 Asset Management L.P. bought a new stake in shares of Bio-Techne in the third quarter worth about $89,724,000. Raymond James Financial Inc. bought a new stake in shares of Bio-Techne in the fourth quarter worth about $44,479,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 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 worth $147,002,000 after purchasing an additional 354,478 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Bio-Techne in the third quarter worth about $20,071,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of Bio-Techne by 8,079.6% in the fourth quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company’s stock worth $17,469,000 after purchasing an additional 239,560 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Bio-Techne

In other news, Director Amy E. Herr sold 1,860 shares of the business’s stock in a transaction dated 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 sale, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were 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 of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $60.61 on Friday. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 61.22, 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 firm’s 50-day moving average is $68.15 and its 200 day moving average is $71.88. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data 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 net margin of 13.22% and a return on equity of 12.73%. Research analysts predict that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TECH shares. Evercore ISI started coverage on Bio-Techne in a report on Tuesday. They issued an “outperform” rating and a $75.00 target price on the stock. Robert W. Baird lowered Bio-Techne from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. KeyCorp increased their price target on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Citigroup reduced their target price on shares of Bio-Techne from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.