TD Asset Management Inc Purchases 19,988 Shares of Bio-Techne Corp $TECH

TD Asset Management Inc raised its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 19.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 124,495 shares of the biotechnology company’s stock after acquiring an additional 19,988 shares during the period. TD Asset Management Inc’s holdings in Bio-Techne were worth $7,322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Impax Asset Management Group plc purchased a new stake in shares of Bio-Techne during the 4th quarter valued at about $11,468,000. Caprock Group LLC purchased a new stake in Bio-Techne during the 3rd quarter valued at approximately $1,710,000. Hollow Brook Wealth Management LLC raised its stake in Bio-Techne by 69.7% during the third quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock valued at $9,717,000 after purchasing an additional 71,739 shares in the last quarter. Madison Asset Management LLC purchased a new position in shares of Bio-Techne in the 3rd quarter worth approximately $41,425,000. Finally, Border to Coast Pensions Partnership Ltd purchased a new stake in Bio-Techne in the 4th quarter worth about $15,023,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TECH. Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Wells Fargo & Company dropped their target price on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus set a $50.00 target price on Bio-Techne in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.17.

Bio-Techne Price Performance

Shares of TECH opened at $54.41 on Wednesday. The firm has a fifty day moving average price of $52.08 and a 200 day moving average price of $57.51. The stock has a market cap of $8.52 billion, a PE ratio of 78.86, a price-to-earnings-growth ratio of 5.03 and a beta of 1.37. 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 Corp has a 1-year low of $43.19 and a 1-year high of $72.16.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. During the same quarter in the prior year, the firm posted $0.56 EPS. Bio-Techne’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne’s payout ratio is presently 46.38%.

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.