Kera Capital Partners Inc. Acquires Shares of 5,367 Bio-Techne Corp $TECH

Key Points

• Kera Capital Partners Inc. has invested approximately $276,000 in Bio-Techne Corp, acquiring 5,367 shares in the second quarter.
• Recently, several institutional investors have increased their stakes in Bio-Techne, with 98.95% of shares currently held by such entities.
• Wall Street analysts have upgraded Bio-Techne’s stock ratings, with an average price target now at $70.42 and several firms issuing a "strong buy" or "buy" rating.

Kera Capital Partners Inc. purchased a new stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,367 shares of the biotechnology company's stock, valued at approximately $276,000.

Several other institutional investors also recently modified their holdings of TECH. CX Institutional bought a new position in shares of Bio-Techne in the first quarter valued at $27,000. AlphaQuest LLC purchased a new position in Bio-Techne during the 1st quarter worth approximately $34,000. Federated Hermes Inc. purchased a new position in Bio-Techne during the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd grew its position in Bio-Techne by 1,239.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 855 shares in the last quarter. Finally, Horizon Financial Services LLC purchased a new position in Bio-Techne during the 1st quarter worth approximately $69,000. Institutional investors own 98.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TECH shares. Citigroup upgraded shares of Bio-Techne from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $55.00 to $70.00 in a research report on Thursday, August 21st. Royal Bank Of Canada upgraded shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Scotiabank lowered their price target on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a report on Friday, July 11th. Wall Street Zen cut shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Benchmark restated a "buy" rating and set a $75.00 price target on shares of Bio-Techne in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.42.

Bio-Techne Price Performance

NASDAQ TECH traded down $0.73 on Friday, reaching $52.26. The company's stock had a trading volume of 433,202 shares, compared to its average volume of 2,052,167. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. The firm has a market cap of $8.19 billion, a PE ratio of 113.40, a price-to-earnings-growth ratio of 3.28 and a beta of 1.47. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $80.80. The business has a 50-day moving average price of $53.85 and a 200 day moving average price of $53.09.

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

Bio-Techne Dividend Announcement

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

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.