Bio-Techne Co. (NASDAQ:TECH) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,399,327 shares of the biotechnology company's stock after buying an additional 70,294 shares during the period. Mackenzie Financial Corp owned 1.52% of Bio-Techne worth $185,132,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TECH. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Bio-Techne during the third quarter valued at approximately $27,000. Harbour Investments Inc. boosted its position in shares of Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 244 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $29,000. CVA Family Office LLC bought a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $31,000. Finally, Lazard Asset Management LLC boosted its position in shares of Bio-Techne by 447.5% during the fourth quarter. Lazard Asset Management LLC now owns 553 shares of the biotechnology company's stock valued at $45,000 after purchasing an additional 452 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded down $1.51 during midday trading on Tuesday, reaching $64.01. 1,606,663 shares of the company's stock traded hands, compared to its average volume of 1,072,596. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 46.38, a P/E/G ratio of 7.55 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37. Bio-Techne Co. has a one year low of $51.79 and a one year high of $89.91. The stock has a 50 day moving average of $70.80 and a 200 day moving average of $68.74.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $272.60 million for the quarter, compared to the consensus estimate of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, equities research analysts anticipate that Bio-Techne Co. will post 1.53 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne's dividend payout ratio (DPR) is presently 23.19%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Friday, February 2nd. Stephens dropped their price target on Bio-Techne from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Friday, February 2nd. Scotiabank assumed coverage on Bio-Techne in a report on Thursday, February 8th. They issued a "sector outperform" rating and a $80.00 target price on the stock. Finally, Stifel Nicolaus downgraded Bio-Techne from a "buy" rating to a "hold" rating and set a $65.00 target price on the stock. in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of "Moderate Buy" and a consensus price target of $84.11.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.10% of the stock is owned by company insiders.

Bio-Techne Company 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.