CIBC Asset Management Inc Buys 1,718 Shares of Bio-Techne Co. (NASDAQ:TECH)

CIBC Asset Management Inc grew its position in Bio-Techne Co. (NASDAQ:TECH) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,959 shares of the biotechnology company’s stock after purchasing an additional 1,718 shares during the period. CIBC Asset Management Inc’s holdings in Bio-Techne were worth $1,835,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TECH. Price T Rowe Associates Inc. MD boosted its position in Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after buying an additional 2,755,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Bio-Techne by 20.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after acquiring an additional 290,510 shares in the last quarter. Mackenzie Financial Corp grew its position in Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after purchasing an additional 88,257 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Bio-Techne by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.7 %

NASDAQ:TECH opened at $66.37 on Wednesday. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a 12-month low of $61.11 and a 12-month high of $85.57. The stock’s fifty day simple moving average is $73.97 and its 200-day simple moving average is $75.35. The firm has a market capitalization of $10.55 billion, a P/E ratio of 70.61, a P/E/G ratio of 4.93 and a beta of 1.28.

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 analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. Equities research analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, November 8th. Bio-Techne’s dividend payout ratio is currently 34.04%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TECH. Robert W. Baird increased their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Scotiabank increased their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.