Universal Beteiligungs und Servicegesellschaft mbH Boosts Stake in Bio-Techne Corp $TECH

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 54.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,186 shares of the biotechnology company’s stock after buying an additional 23,223 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Bio-Techne were worth $3,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TECH. Oak Thistle LLC lifted its stake in shares of Bio-Techne by 1.9% during the 3rd quarter. Oak Thistle LLC now owns 9,314 shares of the biotechnology company’s stock worth $518,000 after acquiring an additional 173 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Bio-Techne by 5.6% in the third quarter. Exchange Traded Concepts LLC now owns 3,630 shares of the biotechnology company’s stock worth $202,000 after purchasing an additional 192 shares during the period. Farther Finance Advisors LLC increased its stake in Bio-Techne by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,883 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 198 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Bio-Techne by 5.6% during the second quarter. Parkside Financial Bank & Trust now owns 4,134 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 219 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Bio-Techne by 4.5% during the second quarter. E Fund Management Co. Ltd. now owns 5,497 shares of the biotechnology company’s stock valued at $283,000 after purchasing an additional 235 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on TECH shares. Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the stock a “buy” rating in a research note on Friday, December 12th. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. UBS Group raised their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Evercore ISI set a $62.00 price target on shares of Bio-Techne and gave the company an “in-line” rating in a research note on Monday, January 5th. Finally, Wells Fargo & Company increased their price objective on Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.57.

Bio-Techne Stock Performance

Shares of TECH stock opened at $65.56 on Thursday. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 133.80, a PEG ratio of 4.70 and a beta of 1.47. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $79.28. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $62.98 and its 200 day moving average is $58.75.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $286.56 million during the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.Bio-Techne’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is presently 65.31%.

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.