Riverbridge Partners LLC Has $46.21 Million Stake in Bio-Techne Corp $TECH

Riverbridge Partners LLC decreased its position in Bio-Techne Corp (NASDAQ:TECH) by 13.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 785,788 shares of the biotechnology company’s stock after selling 120,654 shares during the quarter. Riverbridge Partners LLC owned about 0.50% of Bio-Techne worth $46,212,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECH. Blue Trust Inc. grew its position in Bio-Techne by 109.7% in the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne during the 3rd quarter worth $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne during the 3rd quarter valued at $33,000. Sound Income Strategies LLC bought a new position in shares of Bio-Techne during the 3rd quarter valued at $37,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at $37,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Up 0.0%

Shares of TECH stock opened at $52.70 on Friday. The firm has a market capitalization of $8.24 billion, a P/E ratio of 103.34, a price-to-earnings-growth ratio of 3.46 and a beta of 1.48. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $72.16. The firm’s fifty day simple moving average is $59.61 and its 200 day simple moving average is $59.70. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. During the same period last year, the business posted $0.42 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio (DPR) is presently 62.75%.

Analysts Set New Price Targets

Several equities analysts have commented on TECH shares. Deutsche Bank Aktiengesellschaft set a $72.00 target price on shares of Bio-Techne and gave the stock a “buy” rating in a research report on Friday, December 12th. Stifel Nicolaus set a $65.00 price target on Bio-Techne and gave the stock a “hold” rating in a research report on Thursday, February 5th. Wells Fargo & Company upped their price target on Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Citigroup reissued a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Finally, UBS Group reissued a “buy” rating and issued a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.77.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.