308,300 Shares in Bio-Techne Corp $TECH Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 308,300 shares of the biotechnology company’s stock, valued at approximately $21,781,000. Canada Pension Plan Investment Board owned about 0.20% of Bio-Techne at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TECH. Tema ETFs LLC raised its holdings in shares of Bio-Techne by 5.4% during the second quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock worth $199,000 after purchasing an additional 145 shares during the last quarter. 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 purchasing an additional 161 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Bio-Techne by 3.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after purchasing an additional 181 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its position in Bio-Techne by 5.1% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 194 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in Bio-Techne by 2.8% during the 4th quarter. New Mexico Educational Retirement Board now owns 7,300 shares of the biotechnology company’s stock worth $429,000 after purchasing an additional 200 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Price Performance

Bio-Techne stock opened at $72.35 on Friday. The stock has a market capitalization of $11.35 billion, a P/E ratio of 62.91, a P/E/G ratio of 8.63 and a beta of 1.28. The company’s fifty day moving average price is $70.86 and its 200 day moving average price is $59.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.62.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.Bio-Techne’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. As a group, equities research analysts anticipate that Bio-Techne Corp will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be given a dividend of $0.65 per share. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. Bio-Techne’s dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

A number of equities analysts have weighed in on TECH shares. Robert W. Baird lifted their price objective on Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $73.00 in a report on Friday, June 26th. Stephens set a $73.00 price target on Bio-Techne and gave the company an “equal weight” rating in a research report on Friday, June 26th. Weiss Ratings upgraded Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.92.

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.