31,091 Shares in Bio-Techne Corp $TECH Bought by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG bought a new stake of 31,091 shares in Bio‑Techne (~$1.73M) in Q3, while several large institutions (Norges Bank, American Century, Neuberger Berman, Madison, William Blair) materially increased or initiated positions, leaving institutional investors owning about 98.95% of the stock.
• Bio‑Techne beat Q3 EPS estimates ($0.46 vs. $0.43) and posted $295.9M in revenue (down 0.4% YoY), the shares have a high PE (~103.6) and $8.26B market cap, and analysts maintain a consensus "Moderate Buy" with an average price target of $72.77 after several price‑target upgrades.

B. Metzler seel. Sohn & Co. AG purchased a new stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 31,091 shares of the biotechnology company's stock, valued at approximately $1,730,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Bio-Techne in the 2nd quarter worth approximately $98,238,000. American Century Companies Inc. boosted its position in Bio-Techne by 78.3% during the third quarter. American Century Companies Inc. now owns 2,037,806 shares of the biotechnology company's stock valued at $113,363,000 after acquiring an additional 894,987 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Bio-Techne by 32.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company's stock worth $183,975,000 after acquiring an additional 807,147 shares during the period. Madison Asset Management LLC acquired a new stake in Bio-Techne during the 3rd quarter worth about $41,425,000. Finally, William Blair Investment Management LLC raised its position in shares of Bio-Techne by 75.9% in the 3rd quarter. William Blair Investment Management LLC now owns 1,709,662 shares of the biotechnology company's stock worth $95,108,000 after acquiring an additional 737,577 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Trading Down 3.7%

NASDAQ:TECH opened at $52.82 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 3.08. Bio-Techne Corp has a one year low of $46.01 and a one year high of $72.16. The company has a market cap of $8.26 billion, a PE ratio of 103.57, a PEG ratio of 3.64 and a beta of 1.48. The firm has a 50-day moving average of $62.66 and a 200-day moving average of $60.04.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $295.88 million for the quarter, compared to analysts' expectations of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

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

Wall Street Analysts Forecast Growth

TECH has been the topic of a number of recent analyst reports. Zacks Research raised Bio-Techne from a "strong sell" rating to a "hold" rating in a research note on Monday, February 9th. Benchmark reiterated a "buy" rating on shares of Bio-Techne in a report on Tuesday, February 3rd. TD Cowen reissued a "buy" rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. UBS Group restated a "buy" rating and set a $79.00 price target (up from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Finally, Wells Fargo & Company raised their price objective on shares of Bio-Techne from $70.00 to $76.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Bio-Techne currently has an average 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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