TD Asset Management Inc Acquires 36,424 Shares of Bio-Techne Corp $TECH

TD Asset Management Inc increased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 53.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,507 shares of the biotechnology company’s stock after purchasing an additional 36,424 shares during the quarter. TD Asset Management Inc owned 0.07% of Bio-Techne worth $5,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TECH. Champlain Investment Partners LLC lifted its stake in Bio-Techne by 8.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,665,684 shares of the biotechnology company’s stock valued at $137,149,000 after acquiring an additional 217,362 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Bio-Techne by 2.9% during the second quarter. Mackenzie Financial Corp now owns 2,619,101 shares of the biotechnology company’s stock valued at $134,753,000 after purchasing an additional 72,822 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Bio-Techne by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,355,618 shares of the biotechnology company’s stock valued at $131,043,000 after purchasing an additional 5,906 shares during the period. Bank of New York Mellon Corp boosted its holdings in Bio-Techne by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 1,930,042 shares of the biotechnology company’s stock worth $107,368,000 after purchasing an additional 6,950 shares during the last quarter. Finally, Norges Bank purchased a new stake in Bio-Techne in the second quarter worth approximately $98,238,000. 98.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TECH has been the topic of several research analyst reports. Argus increased their price target on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. TD Cowen reiterated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Robert W. Baird set a $70.00 target price on Bio-Techne in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft set a $72.00 price target on Bio-Techne and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Evercore upped their price target on shares of Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $56.99 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. The stock has a 50-day simple moving average of $63.05 and a two-hundred day simple moving average of $60.02. The firm has a market capitalization of $8.92 billion, a PE ratio of 111.75, a P/E/G ratio of 3.84 and a beta of 1.48. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $72.16.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio is 62.75%.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.