CI Investments Inc. Purchases 12,004 Shares of Bio-Techne Corp $TECH

CI Investments Inc. boosted its holdings in Bio-Techne Corp (NASDAQ:TECHFree Report) by 3.7% in the first quarter, Holdings Channel reports. The institutional investor owned 335,072 shares of the biotechnology company’s stock after buying an additional 12,004 shares during the period. CI Investments Inc.’s holdings in Bio-Techne were worth $17,511,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Asset Management One Co. Ltd. lifted its holdings in Bio-Techne by 2.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock worth $341,000 after buying an additional 153 shares during the period. Accredited Investors Inc. boosted 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 acquiring an additional 161 shares during the last quarter. Allworth Financial LP raised its holdings in Bio-Techne by 28.4% during the 3rd quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 174 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Bio-Techne by 3.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after purchasing an additional 181 shares during the period. Finally, Bryn Mawr Trust Advisors LLC boosted its stake in shares of Bio-Techne by 5.1% in the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock valued at $208,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Benchmark lowered shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and upped their target price for the company from $70.00 to $73.00 in a research report on Friday, June 26th. William Blair downgraded Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Evercore cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bio-Techne has a consensus rating of “Hold” and an average price target of $68.08.

Check Out Our Latest Stock Analysis on TECH

Bio-Techne Price Performance

Bio-Techne stock opened at $71.78 on Thursday. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16. The company’s 50 day moving average price is $59.38 and its two-hundred day moving average price is $58.65. The stock has a market cap of $11.24 billion, a P/E ratio of 104.03, a P/E/G ratio of 8.53 and a beta of 1.29. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECHGet Free Report) last issued 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 analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. On average, equities analysts predict that Bio-Techne Corp will post 1.65 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Bio-Techne Company Profile

(Free Report)

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.

Further Reading

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

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