Geneva Capital Management LLC Purchases 17,114 Shares of Bio-Techne Co. (NASDAQ:TECH)

Geneva Capital Management LLC increased its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,104,310 shares of the biotechnology company’s stock after buying an additional 17,114 shares during the period. Bio-Techne accounts for approximately 1.5% of Geneva Capital Management LLC’s holdings, making the stock its 21st biggest position. Geneva Capital Management LLC owned about 0.70% of Bio-Techne worth $88,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UniSuper Management Pty Ltd increased its position in Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock worth $967,000 after buying an additional 11,667 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Bio-Techne by 20.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after purchasing an additional 33,709 shares during the last quarter. Tidal Investments LLC raised its stake in Bio-Techne by 135.5% during the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock valued at $2,252,000 after purchasing an additional 18,404 shares during the last quarter. Seven Eight Capital LP acquired a new stake in Bio-Techne in the 1st quarter worth $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Bio-Techne by 20.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after purchasing an additional 290,510 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Trading Down 0.4 %

Shares of TECH stock opened at $74.41 on Wednesday. The company has a market capitalization of $11.82 billion, a P/E ratio of 79.16, a P/E/G ratio of 5.45 and a beta of 1.28. Bio-Techne Co. has a 12-month low of $56.45 and a 12-month high of $85.57. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $74.21 and a 200 day moving average price of $75.39.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. Research analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, November 8th. Bio-Techne’s payout ratio is presently 34.04%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TECH. Royal Bank of Canada reduced their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday. Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird increased their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.78.

About Bio-Techne

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.