Bio-Techne Co. (NASDAQ:TECH) Stake Raised by Brown Capital Management LLC

Brown Capital Management LLC lifted its holdings in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,550,990 shares of the biotechnology company’s stock after purchasing an additional 392,986 shares during the quarter. Bio-Techne comprises approximately 4.1% of Brown Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Brown Capital Management LLC’s holdings in Bio-Techne were worth $273,994,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. CVA Family Office LLC acquired a new position in Bio-Techne in the fourth quarter valued at about $31,000. First Horizon Advisors Inc. raised its stake in shares of Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 191 shares during the period. GAMMA Investing LLC acquired a new position in shares of Bio-Techne in the 4th quarter worth approximately $44,000. Federated Hermes Inc. purchased a new position in shares of Bio-Techne during the 3rd quarter worth approximately $47,000. Finally, Clear Street Markets LLC boosted its position in shares of Bio-Techne by 255.8% during the 3rd quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 527 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Stock Up 0.7 %

TECH stock opened at $77.45 on Thursday. The company’s 50 day moving average price is $73.96 and its 200 day moving average price is $72.33. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 9.26 and a beta of 1.29. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $89.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $303.43 million for the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. On average, equities research analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Wall Street Analyst Weigh In

A number of research firms have commented on TECH. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Robert W. Baird raised their target price on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.00.

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.