Riverbridge Partners LLC Has $49.47 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Riverbridge Partners LLC lessened its holdings in Bio-Techne Co. (NASDAQ:TECH) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 686,722 shares of the biotechnology company’s stock after selling 50,927 shares during the period. Riverbridge Partners LLC owned about 0.43% of Bio-Techne worth $49,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in shares of Bio-Techne by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares during the period. Mutual of America Capital Management LLC increased its stake in Bio-Techne by 59.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,821 shares of the biotechnology company’s stock valued at $2,352,000 after buying an additional 12,234 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Bio-Techne by 18.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,553 shares of the biotechnology company’s stock worth $398,000 after buying an additional 872 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Bio-Techne during the 2nd quarter valued at $172,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Bio-Techne by 42.1% during the 2nd quarter. Pacer Advisors Inc. now owns 15,140 shares of the biotechnology company’s stock valued at $1,085,000 after acquiring an additional 4,488 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TECH shares. Scotiabank lifted 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 report on Tuesday, November 12th. Finally, Robert W. Baird raised their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Bio-Techne Trading Down 0.1 %

NASDAQ:TECH opened at $78.71 on Thursday. The company’s 50 day moving average is $73.94 and its 200-day moving average is $74.46. 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 12 month low of $61.16 and a 12 month high of $85.57. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 83.73, a P/E/G ratio of 5.81 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 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 firm had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same quarter last year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate that Bio-Techne Co. will post 1.68 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.41%. Bio-Techne’s payout ratio is 34.04%.

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.