Brown Capital Management LLC Has $168.67 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Brown Capital Management LLC lessened its position in Bio-Techne Co. (NASDAQ:TECH) by 13.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & 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 accounts for approximately 3.6% of Brown Capital Management LLC’s portfolio, making the stock its 10th largest holding. Brown Capital Management LLC’s holdings in Bio-Techne were worth $168,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP bought a new position in Bio-Techne during the first quarter valued at approximately $569,000. UniSuper Management Pty Ltd grew its holdings in shares of Bio-Techne by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after purchasing an additional 11,667 shares during the last quarter. Bessemer Group Inc. lifted its stake in Bio-Techne by 117.6% in the first quarter. Bessemer Group Inc. now owns 40,776 shares of the biotechnology company’s stock worth $2,870,000 after purchasing an additional 22,037 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Bio-Techne by 8.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 58,798 shares of the biotechnology company’s stock worth $4,140,000 after buying an additional 4,457 shares during the period. Finally, Toronto Dominion Bank grew its position in Bio-Techne by 1.6% during the 1st quarter. Toronto Dominion Bank now owns 90,415 shares of the biotechnology company’s stock worth $6,364,000 after acquiring an additional 1,391 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $68.72 on Thursday. The company has a market capitalization of $10.92 billion, a PE ratio of 73.11, a PEG ratio of 4.84 and a beta of 1.28. The business has a fifty day moving average price of $73.88 and a 200-day moving average price of $75.31. Bio-Techne Co. has a 1-year low of $61.16 and a 1-year high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.

Bio-Techne (NASDAQ:TECH) last issued 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. The business had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, equities analysts expect that Bio-Techne Co. will post 1.68 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm 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 dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Scotiabank upped their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada dropped their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird boosted their price target 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. Finally, StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.78.

About Bio-Techne

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.