Riverbridge Partners LLC Sells 15,014 Shares of Bio-Techne Co. (NASDAQ:TECH)

Riverbridge Partners LLC reduced its stake in Bio-Techne Co. (NASDAQ:TECH - Free Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 706,817 shares of the biotechnology company's stock after selling 15,014 shares during the period. Riverbridge Partners LLC owned 0.45% of Bio-Techne worth $54,538,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bio-Techne in the 3rd quarter worth $27,000. Harbour Investments Inc. boosted its position in shares of Bio-Techne by 305.0% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Bio-Techne in the 4th quarter worth $29,000. CVA Family Office LLC bought a new position in shares of Bio-Techne in the 4th quarter worth $31,000. Finally, Lazard Asset Management LLC boosted its position in shares of Bio-Techne by 447.5% in the 4th quarter. Lazard Asset Management LLC now owns 553 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 452 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares of the company's stock, valued at $3,317,607.06. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.45% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on TECH. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They set a "sector outperform" rating and a $80.00 target price on the stock. UBS Group began coverage on Bio-Techne in a report on Thursday, December 7th. They set a "buy" rating and a $80.00 target price on the stock. Royal Bank of Canada reduced their target price on Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 2nd. Stephens reduced their target price on Bio-Techne from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Friday, February 2nd. Finally, Stifel Nicolaus lowered Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 target price on the stock. in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.11.

Bio-Techne Stock Down 1.2 %

Shares of NASDAQ:TECH traded down $0.82 during midday trading on Thursday, reaching $67.05. The company had a trading volume of 858,802 shares, compared to its average volume of 1,077,900. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23. The business's 50 day moving average price is $71.12 and its 200 day moving average price is $68.83. The stock has a market cap of $10.54 billion, a PE ratio of 48.59, a P/E/G ratio of 7.78 and a beta of 1.22. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $272.60 million during the quarter, compared to analyst estimates of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Research analysts forecast that Bio-Techne Co. will post 1.53 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, February 9th. Bio-Techne's dividend payout ratio is currently 23.19%.

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.

Want to see what other hedge funds are holding TECH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bio-Techne Co. (NASDAQ:TECH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.