CIBC Private Wealth Group LLC Has $16.06 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

CIBC Private Wealth Group LLC trimmed its holdings in Bio-Techne Co. (NASDAQ:TECHFree Report) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,108 shares of the biotechnology company’s stock after selling 20,490 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.13% of Bio-Techne worth $16,058,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC bought a new stake in Bio-Techne in the 4th quarter valued at $31,000. First Horizon Advisors Inc. boosted its stake in Bio-Techne by 57.9% in the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 191 shares during the period. GAMMA Investing LLC acquired a new position in shares of Bio-Techne in the fourth quarter valued at about $44,000. Federated Hermes Inc. acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $47,000. Finally, Clear Street Markets LLC grew its position in Bio-Techne by 255.8% during the third quarter. Clear Street Markets LLC now owns 733 shares of the biotechnology company’s stock worth $50,000 after buying an additional 527 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on TECH shares. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research report on Wednesday, May 22nd. Robert W. Baird increased their price target on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Scotiabank began coverage on Bio-Techne in a research report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus target price of $81.00.

View Our Latest Stock Report on Bio-Techne

Bio-Techne Trading Up 3.1 %

Shares of TECH stock opened at $79.26 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 62.91, a PEG ratio of 9.24 and a beta of 1.29. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The company has a 50-day simple moving average of $73.14 and a two-hundred day simple moving average of $71.84.

Bio-Techne (NASDAQ:TECHGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. Research analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a $0.08 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Bio-Techne’s payout ratio is presently 25.40%.

About Bio-Techne

(Free Report)

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.

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Institutional Ownership by Quarter for Bio-Techne (NASDAQ:TECH)

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