Cerity Partners LLC Has $12.61 Million Holdings in Bio-Techne Co. (NASDAQ:TECH)

Cerity Partners LLC increased its holdings in Bio-Techne Co. (NASDAQ:TECH) by 52.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,729 shares of the biotechnology company’s stock after buying an additional 54,134 shares during the period. Cerity Partners LLC owned 0.10% of Bio-Techne worth $12,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in TECH. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after buying an additional 290,510 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares in the last quarter. Broadcrest Asset Management LLC increased its stake in Bio-Techne by 100.0% in the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after acquiring an additional 100,000 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after purchasing an additional 88,257 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Bio-Techne by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Robert W. Baird increased their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $74.39 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The firm has a market cap of $11.82 billion, a PE ratio of 79.14, a price-to-earnings-growth ratio of 5.20 and a beta of 1.28. The firm’s fifty day moving average is $73.77 and its 200-day moving average is $75.22.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. Sell-side analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s dividend payout ratio is presently 34.04%.

About Bio-Techne

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.