Bio-Techne Co. (NASDAQ:TECH) Shares Bought by DF Dent & Co. Inc.

DF Dent & Co. Inc. increased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 11.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,949,044 shares of the biotechnology company’s stock after purchasing an additional 309,812 shares during the quarter. Bio-Techne makes up approximately 3.1% of DF Dent & Co. Inc.’s investment portfolio, making the stock its 4th largest position. DF Dent & Co. Inc. owned about 1.87% of Bio-Techne worth $218,790,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Bio-Techne in the 1st quarter valued at $25,000. Harbour Investments Inc. lifted its stake in shares of Bio-Techne by 305.0% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Bio-Techne in the 4th quarter valued at $29,000. Financial Freedom LLC acquired a new position in shares of Bio-Techne in the 1st quarter valued at $30,000. Finally, Avalon Trust Co acquired a new position in shares of Bio-Techne in the 1st quarter valued at $44,000. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

Bio-Techne stock traded down $0.79 during midday trading on Monday, reaching $71.03. 549,261 shares of the stock traded hands, compared to its average volume of 973,100. The company has a current ratio of 4.84, a quick ratio of 3.50 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $81.63 and a two-hundred day moving average price of $79.50. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 40.28, a PEG ratio of 3.93 and a beta of 1.21. Bio-Techne Co. has a fifty-two week low of $68.00 and a fifty-two week high of $90.63.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The firm had revenue of $301.32 million during the quarter, compared to analyst estimates of $304.71 million. Bio-Techne had a net margin of 25.10% and a return on equity of 15.47%. On average, equities research analysts forecast that Bio-Techne Co. will post 1.8 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Bio-Techne’s dividend payout ratio is currently 18.16%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 8,939 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total value of $717,980.48. Following the transaction, the director now owns 51,872 shares in the company, valued at approximately $4,166,359.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Bio-Techne news, CEO Charles R. Kummeth sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $88.36, for a total value of $7,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,258,766 shares of the company’s stock, valued at $111,224,563.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roeland Nusse sold 8,939 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $80.32, for a total transaction of $717,980.48. Following the completion of the sale, the director now directly owns 51,872 shares of the company’s stock, valued at $4,166,359.04. The disclosure for this sale can be found here. Company insiders own 4.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TECH shares. Benchmark reiterated a “buy” rating and issued a $120.00 price objective on shares of Bio-Techne in a report on Friday, August 18th. Robert W. Baird dropped their price objective on Bio-Techne from $100.00 to $90.00 in a report on Wednesday, August 9th. William Blair started coverage on Bio-Techne in a report on Monday, August 28th. They issued an “outperform” rating on the stock. Stephens reiterated an “overweight” rating and issued a $100.00 price objective on shares of Bio-Techne in a report on Wednesday, August 9th. Finally, StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Monday, September 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and an average price target of $101.78.

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 worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.