701,740 Shares in Bio-Techne Corp $TECH Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 701,740 Bio-Techne shares during the second quarter, valued at approximately $49.6 million and representing about 0.45% of the company. Institutional investors collectively own 98.95% of Bio-Techne.
• Bio-Techne reported quarterly earnings of $0.52 per share, in line with estimates, while revenue of $321.19 million exceeded expectations and increased 1.3% year over year.
• The company increased its quarterly dividend from $0.08 to $0.65 per share, implying an annualized dividend of $2.60 and a 3.6% yield. Analysts maintain a consensus “Hold” rating with a $68.92 price target.

Deutsche Bank AG acquired a new position in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 701,740 shares of the biotechnology company's stock, valued at approximately $49,578,000. Deutsche Bank AG owned about 0.45% of Bio-Techne as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TECH. Impax Asset Management Group plc acquired a new position in Bio-Techne during the 4th quarter worth $11,468,000. Comerica Bank boosted its position in Bio-Techne by 56.4% in the 4th quarter. Comerica Bank now owns 105,481 shares of the biotechnology company's stock valued at $6,203,000 after buying an additional 38,031 shares during the last quarter. American Capital Management Inc. increased its stake in shares of Bio-Techne by 8.5% in the 1st quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company's stock valued at $53,364,000 after buying an additional 79,979 shares during the period. Nicholas Company Inc. raised its position in shares of Bio-Techne by 6.5% during the fourth quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company's stock worth $22,983,000 after acquiring an additional 23,785 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Bio-Techne by 316.7% during the fourth quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company's stock valued at $41,373,000 after acquiring an additional 534,676 shares during the period. Institutional investors and hedge funds own 98.95% of the company's stock.

Bio-Techne Price Performance

TECH opened at $72.28 on Friday. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.62. The company has a fifty day simple moving average of $68.92 and a 200 day simple moving average of $59.45. The stock has a market cap of $11.32 billion, a P/E ratio of 62.85, a P/E/G ratio of 8.63 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The business had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. During the same quarter last year, the business posted $0.53 EPS. The firm's revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Bio-Techne Corp will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be given a dividend of $0.65 per share. This is an increase from Bio-Techne's previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. Bio-Techne's payout ratio is 27.83%.

Analysts Set New Price Targets

Several research firms recently issued reports on TECH. Piper Sandler started coverage on Bio-Techne in a report on Thursday, June 11th. They issued a "neutral" rating and a $65.00 price target on the stock. Leerink Partners set a $73.00 target price on shares of Bio-Techne in a research report on Thursday, June 25th. Evercore lowered shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. William Blair cut shares of Bio-Techne from an "outperform" rating to a "market perform" rating in a research report on Thursday, June 25th. Finally, Stephens set a $73.00 price target on shares of Bio-Techne and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.92.

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.

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