Mackenzie Financial Corp Has $142.39 Million Stock Position in Bio-Techne Corp $TECH

Mackenzie Financial Corp lowered its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,559,590 shares of the biotechnology company’s stock after selling 59,511 shares during the period. Mackenzie Financial Corp’s holdings in Bio-Techne were worth $142,390,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of Bio-Techne by 109.7% in the third 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 last quarter. Allworth Financial LP raised its position in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares during the period. Sound Income Strategies LLC acquired a new position in Bio-Techne during the 3rd quarter worth about $37,000. Finally, Federated Hermes Inc. bought a new stake in shares of Bio-Techne in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TECH. UBS Group reissued a “buy” rating and issued a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. TD Cowen reiterated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Robert W. Baird set a $70.00 target price on shares of Bio-Techne in a research report on Thursday, February 5th. Wells Fargo & Company raised their price target on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Stifel Nicolaus set a $65.00 price target on shares of Bio-Techne and gave the stock a “hold” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.77.

Bio-Techne Stock Performance

TECH stock opened at $53.62 on Thursday. The stock has a 50-day moving average price of $62.56 and a 200-day moving average price of $59.99. Bio-Techne Corp has a 1-year low of $46.01 and a 1-year high of $72.16. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The firm has a market cap of $8.39 billion, a PE ratio of 105.14, a price-to-earnings-growth ratio of 3.51 and a beta of 1.48.

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

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Monday, February 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne’s dividend payout ratio is presently 62.75%.

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.