Kera Capital Partners Inc. Invests $276,000 in 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. bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,367 shares of the biotechnology company's stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional acquired a new position in Bio-Techne during the first quarter worth about $27,000. AlphaQuest LLC acquired a new position in Bio-Techne during the first quarter worth about $34,000. Federated Hermes Inc. acquired a new position in Bio-Techne during the first quarter worth about $41,000. Caitong International Asset Management Co. Ltd boosted its position in Bio-Techne by 1,239.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock worth $54,000 after acquiring an additional 855 shares during the last quarter. Finally, Horizon Financial Services LLC acquired a new position in Bio-Techne during the first quarter worth about $69,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TECH shares. Royal Bank Of Canada upgraded shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 3rd. Citigroup upgraded shares of Bio-Techne from a "neutral" rating to a "buy" rating and boosted their target price for the company from $55.00 to $70.00 in a report on Thursday, August 21st. Wall Street Zen lowered shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Stephens upgraded shares of Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a report on Tuesday, July 22nd. Finally, TD Cowen initiated coverage on shares of Bio-Techne in a report on Wednesday, July 9th. They issued a "buy" rating and a $65.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $70.42.

Bio-Techne Price Performance

Bio-Techne stock opened at $51.26 on Friday. The company's 50 day simple moving average is $53.92 and its 200-day simple moving average is $53.29. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 111.44, a price-to-earnings-growth ratio of 3.39 and a beta of 1.47. Bio-Techne Corp has a 1 year low of $46.01 and a 1 year high of $80.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $316.96 million for the quarter, compared to the consensus estimate 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 was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. As a group, equities research analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

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

Bio-Techne Company 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.

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