Geneva Capital Management LLC Sells 14,375 Shares of Bio-Techne Co. (NASDAQ:TECH)

Geneva Capital Management LLC reduced its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,089,935 shares of the biotechnology company's stock after selling 14,375 shares during the quarter. Bio-Techne comprises 1.4% of Geneva Capital Management LLC's portfolio, making the stock its 26th biggest position. Geneva Capital Management LLC owned 0.69% of Bio-Techne worth $78,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bio-Techne by 46.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,650 shares of the biotechnology company's stock valued at $1,215,000 after purchasing an additional 5,295 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Bio-Techne by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,298 shares of the biotechnology company's stock worth $3,119,000 after purchasing an additional 16,038 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Bio-Techne in the 3rd quarter valued at $1,188,000. Broadcrest Asset Management LLC increased its position in shares of Bio-Techne by 100.0% in the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company's stock valued at $15,986,000 after buying an additional 100,000 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Bio-Techne during the 3rd quarter worth $43,000. 98.95% of the stock is owned by institutional investors.

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Bio-Techne Stock Down 2.3 %

Shares of NASDAQ TECH traded down $1.47 during mid-day trading on Monday, hitting $62.90. The company had a trading volume of 2,469,305 shares, compared to its average volume of 1,043,720. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $70.61 and a two-hundred day simple moving average of $72.68. The company has a market capitalization of $9.94 billion, a PE ratio of 63.54, a price-to-earnings-growth ratio of 2.88 and a beta of 1.30. Bio-Techne Co. has a one year low of $58.88 and a one year high of $85.57.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, equities analysts expect that Bio-Techne Co. will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 17th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, February 14th. Bio-Techne's payout ratio is currently 32.32%.

Analyst Ratings Changes

A number of research analysts have issued reports on TECH shares. Robert W. Baird cut Bio-Techne from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Royal Bank of Canada lifted their price target on shares of Bio-Techne from $79.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. KeyCorp upped their price target on shares of Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Scotiabank raised their price objective on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $82.14.

Insider Buying and Selling

In other news, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the transaction, the chief executive officer now directly owns 39,004 shares of the company's stock, valued at $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy E. Herr sold 1,860 shares of Bio-Techne stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total transaction of $122,685.60. Following the sale, the director now directly owns 1,976 shares of the company's stock, valued at $130,336.96. The trade was a 48.49 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

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.