Mackenzie Financial Corp Sells 59,511 Shares of Bio-Techne Corp $TECH

Key Points

• Mackenzie Financial Corp reduced its Bio‑Techne stake by 2.3% in Q3, selling 59,511 shares and now holds 2,559,590 shares (about 1.64% of the company) valued at roughly $142.39 million.
• Institutional ownership is very high at 98.95%, with several large funds increasing positions — notably Neuberger Berman (+807,147 shares) and American Century (+894,987 shares) — indicating continued institutional interest despite Mackenzie’s trimming.
• TECH trades around $53.62 with a 12‑month range of $46.01–$72.16 and a market cap of $8.39 billion; analysts hold a consensus rating of "Moderate Buy" with a $72.77 price target.

Mackenzie Financial Corp decreased its position in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,559,590 shares of the biotechnology company's stock after selling 59,511 shares during the period. Mackenzie Financial Corp owned about 1.64% of Bio-Techne worth $142,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Neuberger Berman Group LLC lifted its stake in Bio-Techne by 32.3% during the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company's stock worth $183,975,000 after purchasing an additional 807,147 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of Bio-Techne by 8.9% in the 2nd quarter. Champlain Investment Partners LLC now owns 2,665,684 shares of the biotechnology company's stock valued at $137,149,000 after purchasing an additional 217,362 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Bio-Techne by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,355,618 shares of the biotechnology company's stock valued at $131,043,000 after purchasing an additional 5,906 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Bio-Techne by 78.3% during the 3rd quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company's stock worth $113,363,000 after buying an additional 894,987 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Bio-Techne by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,930,042 shares of the biotechnology company's stock worth $107,368,000 after buying an additional 6,950 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Trading Up 1.5%

Shares of TECH stock opened at $53.62 on Thursday. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16. The stock's fifty day simple moving average is $62.56 and its 200 day simple moving average is $59.99. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $8.39 billion, a P/E ratio of 105.14, a P/E/G ratio of 3.51 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted 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 firm had revenue of $295.88 million during the quarter, compared to the consensus estimate of $290.20 million. During the same period last year, the company earned $0.42 earnings per share. The business's quarterly revenue was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, February 13th. Bio-Techne's dividend payout ratio (DPR) is 62.75%.

Analysts Set New Price Targets

TECH has been the topic of several research analyst reports. Evercore raised their price objective on Bio-Techne from $62.00 to $68.00 and gave the company an "in-line" rating in a research note on Thursday, February 5th. Stifel Nicolaus set a $65.00 target price on Bio-Techne and gave the stock a "hold" rating in a research note on Thursday, February 5th. Weiss Ratings raised shares of Bio-Techne from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, February 20th. Benchmark restated a "buy" rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. Finally, Citigroup reaffirmed a "buy" rating and set a $80.00 price target (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.77.

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.

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