B. Metzler seel. Sohn & Co. AG Invests $2.20 Million in Bio-Techne Corp $TECH

Key Points

• B. Metzler invested approximately $2.20 million in Bio-Techne during the second quarter by acquiring 31,091 shares. Institutional investors collectively own 98.95% of the company.
• Analysts maintain a generally cautious outlook, with Bio-Techne receiving an average “Hold” rating and an average price target of $68.92, below its reported $72.32 share price.
• Bio-Techne reported quarterly revenue of $321.19 million, exceeding expectations, while earnings matched estimates at $0.52 per share. The company also raised its quarterly dividend to $0.65, implying a 3.6% yield.

B. Metzler seel. Sohn & Co. AG acquired a new position in Bio-Techne Corp (NASDAQ:TECH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 31,091 shares of the biotechnology company's stock, valued at approximately $2,197,000.

Several other large investors also recently added to or reduced their stakes in TECH. Tema ETFs LLC raised its stake in Bio-Techne by 5.4% in the second quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company's stock valued at $199,000 after purchasing an additional 145 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Bio-Techne by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company's stock worth $341,000 after buying an additional 153 shares in the last quarter. Accredited Investors Inc. increased its holdings in shares of Bio-Techne by 2.7% in the 4th quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company's stock worth $356,000 after buying an additional 161 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Bio-Techne by 3.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company's stock worth $315,000 after buying an additional 181 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its holdings in shares of Bio-Techne by 5.1% in the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company's stock worth $208,000 after buying an additional 194 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of research analyst reports. Benchmark reaffirmed a "hold" rating on shares of Bio-Techne in a report on Wednesday. Piper Sandler began coverage on Bio-Techne in a research note on Thursday, June 11th. They issued a "neutral" rating and a $65.00 target price on the stock. Citigroup downgraded Bio-Techne from a "buy" rating to a "neutral" rating and raised their price target for the company from $70.00 to $73.00 in a research report on Friday, June 26th. Stephens set a $73.00 price target on Bio-Techne and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Finally, Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bio-Techne currently has an average rating of "Hold" and an average target price of $68.92.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $72.32 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.62. The company has a fifty day moving average of $69.28 and a 200-day moving average of $59.54. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 62.89, a price-to-earnings-growth ratio of 8.61 and a beta of 1.28.

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

Bio-Techne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, August 24th. This is a positive change from Bio-Techne's previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. Bio-Techne's payout ratio is presently 27.83%.

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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