Geneva Capital Management LLC Has $88.27 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Geneva Capital Management LLC boosted its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,104,310 shares of the biotechnology company’s stock after purchasing an additional 17,114 shares during the quarter. Bio-Techne makes up approximately 1.5% of Geneva Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Geneva Capital Management LLC’s holdings in Bio-Techne were worth $88,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $25,000. Brown Brothers Harriman & Co. raised its position in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in shares of Bio-Techne in the 2nd quarter valued at $31,000. DT Investment Partners LLC acquired a new position in shares of Bio-Techne in the 2nd quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its position in shares of Bio-Techne by 1,427.8% in the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 514 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

TECH opened at $74.41 on Wednesday. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 79.16, a P/E/G ratio of 5.45 and a beta of 1.28. The business’s 50-day moving average price is $74.21 and its two-hundred day moving average price is $75.39. Bio-Techne Co. has a 1 year low of $56.45 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Bio-Techne’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. Equities analysts expect that Bio-Techne Co. will post 1.68 EPS 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. Investors of record on Monday, November 11th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is currently 34.04%.

Analyst Ratings Changes

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

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.