Bio-Techne Co. (NASDAQ:TECH) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC lowered its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,110,214 shares of the biotechnology company’s stock after selling 319,334 shares during the quarter. 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 about 1.33% of Bio-Techne worth $168,669,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TECH. UniSuper Management Pty Ltd lifted its holdings in shares of Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock worth $967,000 after purchasing an additional 11,667 shares in the last quarter. Tidal Investments LLC lifted its position in Bio-Techne by 135.5% in the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock valued at $2,252,000 after acquiring an additional 18,404 shares in the last quarter. Seven Eight Capital LP bought a new position in Bio-Techne in the 1st quarter valued at about $569,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in 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 purchasing an additional 290,510 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in 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 worth $404,470,000 after purchasing an additional 2,755,065 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 3.5 %

Shares of NASDAQ TECH opened at $68.72 on Thursday. The business has a 50-day simple moving average of $73.88 and a two-hundred day simple moving average of $75.31. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The company has a market cap of $10.92 billion, a P/E ratio of 73.11, a P/E/G ratio of 4.84 and a beta of 1.28. 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 (NASDAQ:TECH) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. During the same period in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts anticipate 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. Stockholders of record on Monday, November 11th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analyst Weigh In

TECH has been the topic of several analyst reports. 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. Robert W. Baird increased their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, Scotiabank boosted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average 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.