Brown Capital Management LLC Has $168.67 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Brown Capital Management LLC trimmed its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 13.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,110,214 shares of the biotechnology company's stock after selling 319,334 shares during the period. Bio-Techne comprises 3.6% of Brown Capital Management LLC's investment portfolio, making the stock its 10th biggest holding. Brown Capital Management LLC owned approximately 1.33% of Bio-Techne worth $168,669,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TECH. Empirical Finance LLC raised its stake in shares of Bio-Techne by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company's stock worth $326,000 after buying an additional 160 shares in the last quarter. First City Capital Management Inc. lifted its holdings in shares of Bio-Techne by 6.2% during the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company's stock worth $224,000 after acquiring an additional 185 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Bio-Techne by 3.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,333 shares of the biotechnology company's stock worth $426,000 after acquiring an additional 200 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Bio-Techne by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company's stock worth $137,000 after purchasing an additional 205 shares during the period. Finally, Mather Group LLC. raised its stake in shares of Bio-Techne by 51.5% during the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company's stock valued at $49,000 after purchasing an additional 208 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on TECH shares. Robert W. Baird raised their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Scotiabank boosted their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a "sector outperform" rating in a research report on Thursday, October 31st. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Benchmark reissued a "buy" rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Finally, 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 for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Bio-Techne has a consensus rating of "Moderate Buy" and an average target price of $81.78.

Bio-Techne Price Performance

Shares of TECH traded up $2.47 during midday trading on Thursday, hitting $71.19. The company's stock had a trading volume of 1,061,162 shares, compared to its average volume of 1,029,793. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a one year low of $61.16 and a one year high of $85.57. The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 75.55, a price-to-earnings-growth ratio of 4.84 and a beta of 1.28. The company's fifty day simple moving average is $73.88 and its two-hundred day simple moving average is $75.31.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The firm 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%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.45%. Bio-Techne's payout ratio is 34.04%.

Bio-Techne Company 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.