Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Geneva Capital Management LLC

Geneva Capital Management LLC grew its stake in Bio-Techne Co. (NASDAQ:TECH) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,079,256 shares of the biotechnology company’s stock after buying an additional 9,322 shares during the period. Bio-Techne accounts for 1.6% of Geneva Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Geneva Capital Management LLC owned about 0.68% of Bio-Techne worth $83,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TECH. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bio-Techne during the 3rd quarter worth $27,000. CVA Family Office LLC acquired a new stake in Bio-Techne during the 4th quarter worth $31,000. First Horizon Advisors Inc. raised its position in Bio-Techne by 57.9% during the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after buying an additional 191 shares during the last quarter. GAMMA Investing LLC purchased a new position in Bio-Techne during the 4th quarter worth $44,000. Finally, Federated Hermes Inc. purchased a new position in Bio-Techne during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the sale, the director now directly owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TECH has been the subject of a number of analyst reports. Scotiabank initiated coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Robert W. Baird increased their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Bio-Techne Price Performance

NASDAQ:TECH traded up $2.58 during mid-day trading on Thursday, hitting $79.63. 816,086 shares of the company’s stock traded hands, compared to its average volume of 1,109,184. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. The firm’s 50 day simple moving average is $69.98 and its 200 day simple moving average is $68.81. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $89.91. The company has a market cap of $12.52 billion, a PE ratio of 62.34, a price-to-earnings-growth ratio of 9.08 and a beta of 1.23.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. During the same period last year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts expect that Bio-Techne Co. will post 1.52 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Bio-Techne’s dividend payout ratio is currently 25.40%.

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.