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

Geneva Capital Management LLC lifted its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,104,310 shares of the biotechnology company's stock after acquiring an additional 17,114 shares during the quarter. Bio-Techne makes up 1.5% of Geneva Capital Management LLC's portfolio, making the stock its 21st biggest holding. Geneva Capital Management LLC owned 0.70% of Bio-Techne worth $88,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Bio-Techne by 92.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company's stock valued at $404,470,000 after purchasing an additional 2,755,065 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company's stock worth $205,081,000 after buying an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company's stock worth $185,559,000 after acquiring an additional 88,257 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock valued at $122,879,000 after acquiring an additional 290,510 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Bio-Techne by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company's stock valued at $70,095,000 after acquiring an additional 12,991 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH traded up $1.56 during midday trading on Wednesday, reaching $75.97. The company's stock had a trading volume of 619,838 shares, compared to its average volume of 1,008,849. Bio-Techne Co. has a fifty-two week low of $58.99 and a fifty-two week high of $85.57. The business's fifty day simple moving average is $74.21 and its 200-day simple moving average is $75.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The company has a market capitalization of $12.07 billion, a P/E ratio of 80.02, a P/E/G ratio of 5.43 and a beta of 1.28.

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

Bio-Techne Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.42%. Bio-Techne's payout ratio is 34.04%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com upgraded Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday. Robert W. Baird raised their price target on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Scotiabank increased their target price on 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 cut their price target on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a report on Thursday, August 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.78.

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.