Geneva Capital Management LLC Buys 9,322 Shares of Bio-Techne Co. (NASDAQ:TECH)

Geneva Capital Management LLC raised its holdings in Bio-Techne Co. (NASDAQ:TECH) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,079,256 shares of the biotechnology company’s stock after buying an additional 9,322 shares during the quarter. Bio-Techne accounts for approximately 1.6% of Geneva Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Geneva Capital Management LLC’s holdings in Bio-Techne were worth $83,275,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bio-Techne in the third quarter valued at about $27,000. CVA Family Office LLC acquired a new stake in Bio-Techne during the fourth quarter valued at approximately $31,000. First Horizon Advisors Inc. grew its stake in shares of Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 191 shares during the period. GAMMA Investing LLC bought a new position in shares of Bio-Techne during the 4th quarter worth approximately $44,000. Finally, Federated Hermes Inc. acquired a new stake in Bio-Techne in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Up 3.3 %

TECH stock traded up $2.58 during trading hours on Thursday, reaching $79.63. 816,086 shares of the stock were exchanged, compared to its average volume of 1,109,184. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 62.34, a PEG ratio of 9.08 and a beta of 1.23. The firm’s 50-day moving average is $69.98 and its 200-day moving average is $68.81. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $89.91.

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

Bio-Techne Announces Dividend

The firm 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 $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.40%. Bio-Techne’s payout ratio is currently 25.40%.

Analysts Set New Price Targets

Several research firms have issued reports on TECH. Scotiabank initiated coverage on Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Friday, February 2nd. Stephens cut their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Finally, Robert W. Baird boosted 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Insider Transactions at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

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.