Baader Bank Aktiengesellschaft Buys New Stake in Bio-Techne Corp $TECH

Key Points

• Baader Bank Aktiengesellschaft acquired a new stake in Bio-Techne Corp, purchasing 65,823 shares valued at approximately $3.38 million during Q2.
• Bio-Techne posted earnings of $0.53 per share, exceeding analyst expectations of $0.50, with revenue rising 3.6% year-over-year to $316.96 million.
• The company's recent dividend announcement included a quarterly payout of $0.08, representing a yield of 0.6% and a dividend payout ratio of 69.57%.

Baader Bank Aktiengesellschaft bought a new stake in 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 (SEC). The fund bought 65,823 shares of the biotechnology company's stock, valued at approximately $3,383,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TECH. Nomura Holdings Inc. bought a new stake in Bio-Techne in the fourth quarter valued at about $378,000. ProShare Advisors LLC grew its stake in Bio-Techne by 11.9% during the fourth quarter. ProShare Advisors LLC now owns 24,050 shares of the biotechnology company's stock worth $1,732,000 after buying an additional 2,559 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Bio-Techne by 28.5% during the fourth quarter. Rafferty Asset Management LLC now owns 20,532 shares of the biotechnology company's stock worth $1,479,000 after buying an additional 4,548 shares during the last quarter. Royal Bank of Canada grew its stake in Bio-Techne by 2.3% during the fourth quarter. Royal Bank of Canada now owns 389,822 shares of the biotechnology company's stock worth $28,079,000 after buying an additional 8,626 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in Bio-Techne by 9.3% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,076 shares of the biotechnology company's stock worth $582,000 after buying an additional 687 shares during the last quarter. Institutional investors own 98.95% of the company's stock.

Bio-Techne Trading Down 0.5%

TECH opened at $51.52 on Thursday. The firm's fifty day moving average is $53.88 and its two-hundred day moving average is $53.14. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The firm has a market cap of $8.08 billion, a PE ratio of 112.00, a price-to-earnings-growth ratio of 3.30 and a beta of 1.47. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.95.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $316.96 million for the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. Equities research analysts anticipate that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.08 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.32 annualized dividend and a yield of 0.6%. Bio-Techne's dividend payout ratio (DPR) is 69.57%.

Analyst Ratings Changes

TECH has been the topic of several research analyst reports. Benchmark reaffirmed a "buy" rating and set a $75.00 price objective on shares of Bio-Techne in a research note on Thursday, June 5th. Scotiabank decreased their price objective on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada raised shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, September 3rd. Wall Street Zen cut shares of Bio-Techne from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Finally, TD Cowen assumed coverage on shares of Bio-Techne in a research note on Wednesday, July 9th. They set a "buy" rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of "Moderate Buy" and a consensus price target of $70.42.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.