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

TD Asset Management Inc increased its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,495 shares of the biotechnology company’s stock after acquiring an additional 19,988 shares during the quarter. TD Asset Management Inc owned about 0.08% of Bio-Techne worth $7,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Danske Bank A S acquired a new stake in Bio-Techne during the 4th quarter valued at $29,000. eCIO Inc. bought a new position in Bio-Techne during the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne in the third quarter valued at $32,000. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne in the 3rd quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 562 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada set a $62.00 price target on shares of Bio-Techne and gave the company an “outperform” rating in a research report on Thursday, May 14th. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday. Evercore set a $50.00 price target on Bio-Techne in a research report on Thursday, May 7th. Finally, Citigroup decreased their price objective on Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.17.

Bio-Techne Trading Up 3.3%

Shares of TECH stock opened at $54.41 on Wednesday. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month 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. The business has a 50-day moving average price of $52.08 and a two-hundred day moving average price of $57.51. The firm has a market cap of $8.52 billion, a P/E ratio of 78.86, a price-to-earnings-growth ratio of 5.03 and a beta of 1.37.

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

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders 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 0.6%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s payout ratio is presently 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.