Baader Bank Aktiengesellschaft Increases Stock Holdings in Bio-Techne Corp $TECH

Baader Bank Aktiengesellschaft grew its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 57.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,905 shares of the biotechnology company’s stock after purchasing an additional 38,082 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Bio-Techne were worth $5,780,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its holdings 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 valued at $25,000 after purchasing an additional 237 shares in the last quarter. Allworth Financial LP boosted its position in Bio-Techne by 68.1% in the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 248 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Bio-Techne during the third quarter worth $37,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Bio-Techne during the third quarter worth $37,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 1.0%

NASDAQ TECH opened at $64.80 on Wednesday. The firm’s fifty day moving average price is $63.37 and its 200 day moving average price is $59.53. Bio-Techne Corp has a 12 month low of $46.01 and a 12 month high of $72.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 127.06, a price-to-earnings-growth ratio of 4.11 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company had revenue of $295.88 million during the quarter, compared to the consensus estimate of $290.20 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Bio-Techne’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s payout ratio is 62.75%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TECH. Argus lifted their target price on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, January 21st. Benchmark restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. UBS Group reiterated a “buy” rating and issued a $79.00 price target (up previously from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Robert W. Baird set a $70.00 price objective on shares of Bio-Techne in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.77.

About Bio-Techne

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.