TD Asset Management Inc Increases Holdings in Bio-Techne Corp $TECH

TD Asset Management Inc increased its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 53.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 104,507 shares of the biotechnology company’s stock after acquiring an additional 36,424 shares during the period. TD Asset Management Inc’s holdings in Bio-Techne were worth $5,814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 237 shares during the period. Allworth Financial LP lifted its holdings in shares of Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after buying an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Bio-Techne during the third quarter valued at $37,000. Finally, Federated Hermes Inc. bought a new stake in Bio-Techne in the 3rd quarter valued at $37,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ:TECH opened at $56.99 on Wednesday. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 111.75, a PEG ratio of 3.84 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08. The business has a 50 day simple moving average of $63.05 and a 200-day simple moving average of $60.02. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Equities analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

Several research firms have commented on TECH. Citigroup reissued a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Benchmark reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Argus upped their price objective on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.77.

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.