CI Investments Inc. Has $17.51 Million Stock Holdings in Bio-Techne Corp $TECH

CI Investments Inc. boosted its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 3.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 335,072 shares of the biotechnology company’s stock after buying an additional 12,004 shares during the period. CI Investments Inc. owned approximately 0.21% of Bio-Techne worth $17,511,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in TECH. First Trust Advisors LP raised its stake in shares of Bio-Techne by 2,874.9% in the 1st quarter. First Trust Advisors LP now owns 1,281,792 shares of the biotechnology company’s stock valued at $66,986,000 after purchasing an additional 1,238,705 shares during the period. PNC Financial Services Group Inc. raised its position in Bio-Techne by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 93,722 shares of the biotechnology company’s stock valued at $4,898,000 after buying an additional 1,556 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Bio-Techne in the 1st quarter valued at approximately $37,000. Dimensional Fund Advisors LP lifted its stake in Bio-Techne by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,973,136 shares of the biotechnology company’s stock valued at $103,118,000 after acquiring an additional 178,843 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Bio-Techne by 13.2% during the 1st quarter. Parallel Advisors LLC now owns 1,936 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 225 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

TECH has been the subject of several recent research reports. Leerink Partners set a $73.00 target price on shares of Bio-Techne in a report on Thursday, June 25th. Royal Bank Of Canada cut shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $62.00 to $73.00 in a research report on Thursday, July 9th. Benchmark downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Stephens set a $73.00 target price on Bio-Techne and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.08.

Bio-Techne Trading Up 0.2%

TECH stock opened at $71.78 on Thursday. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.16. The stock has a market cap of $11.24 billion, a price-to-earnings ratio of 104.03, a price-to-earnings-growth ratio of 8.53 and a beta of 1.29. The company has a fifty day moving average price of $59.38 and a two-hundred day moving average price of $58.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.Bio-Techne’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. Equities analysts anticipate that Bio-Techne Corp will post 1.65 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio is currently 46.38%.

Bio-Techne Company 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.