Cibc World Markets Corp Has $3.83 Million Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Cibc World Markets Corp lessened its holdings in Bio-Techne Co. (NASDAQ:TECHGet Rating) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,411 shares of the biotechnology company’s stock after selling 1,364 shares during the period. Cibc World Markets Corp’s holdings in Bio-Techne were worth $3,834,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in Bio-Techne by 20.8% during the 4th quarter. IFP Advisors Inc now owns 157 shares of the biotechnology company’s stock worth $83,000 after acquiring an additional 27 shares during the last quarter. Pendal Group Ltd lifted its position in Bio-Techne by 1.9% during the 4th quarter. Pendal Group Ltd now owns 1,471 shares of the biotechnology company’s stock worth $761,000 after acquiring an additional 28 shares during the last quarter. Foundry Partners LLC increased its holdings in shares of Bio-Techne by 2.7% during the 4th quarter. Foundry Partners LLC now owns 1,145 shares of the biotechnology company’s stock worth $592,000 after purchasing an additional 30 shares during the period. Manchester Capital Management LLC increased its holdings in shares of Bio-Techne by 12.7% during the 4th quarter. Manchester Capital Management LLC now owns 400 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 45 shares during the period. Finally, O Shares Investment Advisers LLC increased its holdings in shares of Bio-Techne by 2.3% during the 4th quarter. O Shares Investment Advisers LLC now owns 2,100 shares of the biotechnology company’s stock worth $1,086,000 after purchasing an additional 48 shares during the period. 94.36% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on TECH shares. KeyCorp dropped their price objective on shares of Bio-Techne from $600.00 to $500.00 in a report on Thursday, May 5th. SVB Leerink boosted their price target on shares of Bio-Techne from $530.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, February 2nd. Robert W. Baird reduced their price target on shares of Bio-Techne from $520.00 to $500.00 in a research report on Thursday, May 5th. StockNews.com started coverage on shares of Bio-Techne in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating and set a $394.00 price target on the stock in a research report on Thursday, May 12th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $488.43.

In other Bio-Techne news, Director Robert V. Baumgartner bought 300 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $352.55 per share, with a total value of $105,765.00. Following the completion of the purchase, the director now owns 10,106 shares in the company, valued at $3,562,870.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by insiders.

Shares of TECH stock opened at $366.35 on Friday. Bio-Techne Co. has a 1 year low of $335.02 and a 1 year high of $543.85. The firm’s 50 day moving average is $405.85 and its 200-day moving average is $429.47. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 66.85, a PEG ratio of 2.00 and a beta of 1.24. The company has a current ratio of 3.56, a quick ratio of 2.79 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECHGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.21. Bio-Techne had a net margin of 20.95% and a return on equity of 16.82%. The firm had revenue of $290.40 million for the quarter, compared to analysts’ expectations of $279.27 million. During the same period last year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities research analysts forecast that Bio-Techne Co. will post 7.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Monday, May 16th will be paid a $0.32 dividend. The ex-dividend date is Friday, May 13th. This represents a $1.28 dividend on an annualized basis and a yield of 0.35%. Bio-Techne’s payout ratio is 23.36%.

About Bio-Techne (Get Rating)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

Further Reading

Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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