Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Peloton Wealth Strategists

Peloton Wealth Strategists increased its stake in Bio-Techne Co. (NASDAQ:TECH) by 21.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,710 shares of the biotechnology company’s stock after acquiring an additional 1,010 shares during the quarter. Peloton Wealth Strategists’ holdings in Bio-Techne were worth $411,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 168 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Bio-Techne in the 3rd quarter worth $39,000. Quest Partners LLC acquired a new position in shares of Bio-Techne in the 3rd quarter worth $43,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Bio-Techne by 60.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Bio-Techne by 35.0% during the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 198 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Down 4.6 %

Shares of Bio-Techne stock opened at $61.23 on Friday. The firm has a market cap of $9.68 billion, a price-to-earnings ratio of 61.85, a P/E/G ratio of 2.88 and a beta of 1.27. 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 52-week low of $61.06 and a 52-week high of $85.57. The stock has a 50-day simple moving average of $72.12 and a 200-day simple moving average of $73.24.

Bio-Techne (NASDAQ:TECH) last announced its quarterly 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 net margin of 13.22% and a return on equity of 12.73%. On average, equities research analysts expect that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on TECH. Scotiabank increased their price objective on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 6th. KeyCorp raised their price objective on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Baird R W lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird lowered Bio-Techne from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $88.00 to $68.00 in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target of $84.29.

Insider Activity at Bio-Techne

In related news, 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 value of $1,035,067.68. Following the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy E. Herr sold 1,860 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,976 shares in the company, valued at $130,336.96. The trade was a 48.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Bio-Techne Company 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.