NEOS Investment Management LLC Acquires 3,877 Shares of Bio-Techne Co. (NASDAQ:TECH)

NEOS Investment Management LLC lifted its holdings in Bio-Techne Co. (NASDAQ:TECH) by 47.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,998 shares of the biotechnology company’s stock after buying an additional 3,877 shares during the quarter. NEOS Investment Management LLC’s holdings in Bio-Techne were worth $864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. UniSuper Management Pty Ltd increased its position in Bio-Techne by 20.1% in the 4th quarter. UniSuper Management Pty Ltd now owns 26,823 shares of the biotechnology company’s stock valued at $1,932,000 after acquiring an additional 4,489 shares in the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Bio-Techne by 16.2% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 16,260 shares of the biotechnology company’s stock valued at $1,171,000 after purchasing an additional 2,263 shares in the last quarter. Montanaro Asset Management Ltd raised its position in Bio-Techne by 2.9% in the 4th quarter. Montanaro Asset Management Ltd now owns 332,500 shares of the biotechnology company’s stock worth $23,950,000 after purchasing an additional 9,500 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Bio-Techne by 10.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 251,865 shares of the biotechnology company’s stock worth $18,585,000 after buying an additional 24,816 shares in the last quarter. Finally, Korea Investment CORP lifted its holdings in Bio-Techne by 75.8% during the 4th quarter. Korea Investment CORP now owns 73,745 shares of the biotechnology company’s stock worth $5,312,000 after buying an additional 31,800 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Insider Transactions at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 39,004 shares in the company, 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 SEC, which is accessible through this link. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction that occurred 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 directly owns 1,976 shares in the company, valued at approximately $130,336.96. The trade was 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.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com cut Bio-Techne from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Baird R W cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Royal Bank of Canada upped their target price on shares of Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Evercore ISI began coverage on shares of Bio-Techne in a research report on Tuesday, March 18th. They set an “outperform” rating and a $75.00 price target for the company. Finally, Robert W. Baird cut shares of Bio-Techne from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Bio-Techne Stock Down 2.0 %

Bio-Techne stock opened at $58.73 on Monday. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 59.32, a PEG ratio of 2.88 and a beta of 1.30. The company’s 50 day simple moving average is $66.56 and its 200 day simple moving average is $71.44. 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 fifty-two week low of $56.60 and a fifty-two week high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. As a group, sell-side analysts anticipate that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were issued a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. Bio-Techne’s dividend payout ratio (DPR) is currently 32.32%.

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.