Bio-Techne Corp $TECH Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 73.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,605 shares of the biotechnology company’s stock after buying an additional 14,633 shares during the quarter. CIBC Asset Management Inc’s holdings in Bio-Techne were worth $2,035,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Asset Management One Co. Ltd. grew its position in Bio-Techne by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 153 shares in the last quarter. Accredited Investors Inc. grew its position in Bio-Techne by 2.7% in the 4th 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 in the last quarter. Allworth Financial LP grew its position in Bio-Techne by 28.4% in the 3rd quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 174 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Bio-Techne by 3.5% in the 4th 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. Finally, Angeles Wealth Management LLC grew its position in Bio-Techne by 3.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock valued at $317,000 after buying an additional 189 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TECH shares. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the company an “outperform” rating in a research report on Thursday, May 14th. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings upgraded shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.17.

Bio-Techne Price Performance

NASDAQ:TECH opened at $51.99 on Monday. The business’s 50-day moving average price is $52.01 and its 200 day moving average price is $57.57. The firm has a market cap of $8.14 billion, a P/E ratio of 75.35, a PEG ratio of 4.97 and a beta of 1.37. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.16. 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:TECH) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $311.42 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 earnings per share. As a group, sell-side analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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

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.