Mackenzie Financial Corp Boosts Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

Mackenzie Financial Corp grew its position in shares of Bio-Techne Co. (NASDAQ:TECH) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,399,327 shares of the biotechnology company’s stock after purchasing an additional 70,294 shares during the quarter. Mackenzie Financial Corp owned approximately 1.52% of Bio-Techne worth $185,132,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Wetherby Asset Management Inc. increased its holdings in Bio-Techne by 4.8% in the 1st quarter. Wetherby Asset Management Inc. now owns 737 shares of the biotechnology company’s stock worth $319,000 after acquiring an additional 34 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in Bio-Techne by 9.3% during the 1st quarter. Evercore Wealth Management LLC now owns 575 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 49 shares during the last quarter. Toroso Investments LLC boosted its stake in Bio-Techne by 4.8% during the 3rd quarter. Toroso Investments LLC now owns 1,266 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 58 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Bio-Techne by 4.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,406 shares of the biotechnology company’s stock worth $399,000 after purchasing an additional 66 shares during the last quarter. Finally, Pearl River Capital LLC boosted its stake in Bio-Techne by 5.6% during the 1st quarter. Pearl River Capital LLC now owns 1,326 shares of the biotechnology company’s stock worth $574,000 after purchasing an additional 70 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the transaction, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH opened at $65.52 on Tuesday. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 47.48, a price-to-earnings-growth ratio of 7.55 and a beta of 1.22. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The stock has a 50 day moving average price of $70.87 and a 200 day moving average price of $68.77. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $272.60 million during the quarter, compared to analyst estimates of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Research analysts predict that Bio-Techne Co. will post 1.53 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Monday, February 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, February 9th. Bio-Techne’s payout ratio is currently 23.19%.

Analyst Ratings Changes

Several brokerages have issued reports on TECH. Stephens lowered their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Scotiabank began coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target on the stock. Finally, Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.