2Xideas AG Sells 21,436 Shares of Bio-Techne Corp $TECH

Key Points

• 2Xideas AG cut its Bio‑Techne stake by 31%, selling 21,436 shares in Q3 and leaving 47,822 shares valued at about $2.66 million per its latest 13F filing.
• Recent results were modestly positive: Bio‑Techne reported $0.46 EPS (beating by $0.03) on $295.9M revenue (down 0.4% YoY); the stock trades at a ~100 PE with a $7.96B market cap and a 52‑week range of $46.01–$72.16.
• Institutional ownership and analyst sentiment: about 98.95% of shares are held by institutions, the company pays a $0.08 quarterly dividend (0.6% yield), and analysts have a consensus "Moderate Buy" with an average price target of $72.77.

2Xideas AG decreased its holdings in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 31.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,822 shares of the biotechnology company's stock after selling 21,436 shares during the quarter. 2Xideas AG's holdings in Bio-Techne were worth $2,660,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TECH. Oak Thistle LLC raised its position in shares of Bio-Techne by 1.9% in 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 in the last quarter. Angeles Wealth Management LLC grew its holdings in Bio-Techne by 3.4% in the third quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company's stock worth $317,000 after purchasing an additional 189 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Bio-Techne by 5.6% during the third quarter. Exchange Traded Concepts LLC now owns 3,630 shares of the biotechnology company's stock valued at $202,000 after purchasing an additional 192 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Bio-Techne by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,883 shares of the biotechnology company's stock valued at $105,000 after purchasing an additional 198 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Bio-Techne by 0.5% during the third quarter. Arizona State Retirement System now owns 46,356 shares of the biotechnology company's stock valued at $2,579,000 after purchasing an additional 220 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $50.85 on Friday. The firm has a market capitalization of $7.96 billion, a PE ratio of 99.71, a PEG ratio of 3.42 and a beta of 1.48. The stock's fifty day moving average is $62.23 and its 200 day moving average is $59.89. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $72.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, topping 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 analyst estimates of $290.20 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Bio-Techne's quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on TECH. TD Cowen reissued a "buy" rating and issued a $80.00 target price (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Evercore raised their price target on shares of Bio-Techne from $62.00 to $68.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. Robert W. Baird set a $70.00 price target on Bio-Techne in a research note on Thursday, February 5th. 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. Finally, Argus increased their price objective on Bio-Techne from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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