Select Equity Group L.P. Has $180.27 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Select Equity Group L.P. cut its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 16.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,516,033 shares of the biotechnology company’s stock after selling 494,710 shares during the quarter. Select Equity Group L.P. owned about 1.60% of Bio-Techne worth $180,274,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. lifted its stake in Bio-Techne by 16.2% in the fourth quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock valued at $66,089,000 after buying an additional 119,295 shares during the period. Hsbc Holdings PLC increased its stake in shares of Bio-Techne by 55.3% in the 4th quarter. Hsbc Holdings PLC now owns 261,370 shares of the biotechnology company’s stock valued at $20,166,000 after acquiring an additional 93,107 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Bio-Techne by 9.7% during the 4th quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock valued at $10,465,000 after acquiring an additional 11,947 shares during the period. Tower Research Capital LLC TRC boosted its stake in Bio-Techne by 152.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company’s stock worth $2,498,000 after acquiring an additional 19,530 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in Bio-Techne by 563.1% in the first 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 during the period. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada decreased their target price on 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. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Stock Performance

Shares of TECH opened at $78.06 on Friday. The firm has a market capitalization of $12.38 billion, a P/E ratio of 61.95, a P/E/G ratio of 5.59 and a beta of 1.27. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $85.57. The stock has a 50 day moving average price of $75.18 and a two-hundred day moving average price of $74.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. Bio-Techne’s revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that Bio-Techne Co. will post 1.7 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Bio-Techne’s dividend payout ratio is currently 25.40%.

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.