Caisse de depot et placement du Quebec Purchases Shares of 11,100 Bio-Techne Corp $TECH

Caisse de depot et placement du Quebec purchased a new position in Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,100 shares of the biotechnology company’s stock, valued at approximately $784,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TECH. Tema ETFs LLC lifted its position in shares of Bio-Techne by 5.4% during the 2nd quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock worth $199,000 after purchasing an additional 145 shares during the last quarter. Accredited Investors Inc. increased its holdings in Bio-Techne by 2.7% in the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $356,000 after buying an additional 161 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Bio-Techne by 3.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after buying an additional 181 shares in the last quarter. Bryn Mawr Trust Advisors LLC raised its stake in Bio-Techne by 5.1% in the first quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 194 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its holdings in Bio-Techne by 2.8% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,300 shares of the biotechnology company’s stock worth $429,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a report on Thursday, May 7th. William Blair cut shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Royal Bank Of Canada downgraded shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $62.00 to $73.00 in a research report on Thursday, July 9th. Piper Sandler started coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $73.00 in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bio-Techne has an average rating of “Hold” and an average target price of $68.92.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.35 on Monday. The stock has a market cap of $11.35 billion, a P/E ratio of 62.91, a P/E/G ratio of 8.62 and a beta of 1.28. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.62. The stock has a 50 day moving average of $70.86 and a two-hundred day moving average of $59.71. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. On average, research analysts forecast that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is 27.83%.

Bio-Techne Profile

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.