UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $38.22 Million Stock Position in Bio-Techne Corp $TECH

Key Points

• UBS Asset Management increased its Bio-Techne position by 23.1% in the second quarter, adding 101,571 shares for a total holding of 540,944 shares valued at approximately $38.22 million.
• Institutional ownership remains very high at 98.95%, while analysts maintain a consensus “Hold” rating with an average price target of $68.92.
• Bio-Techne reported quarterly revenue of $321.19 million, up 1.3% year over year, and raised its quarterly dividend from $0.08 to $0.65 per share, implying a 3.6% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 23.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 540,944 shares of the biotechnology company's stock after purchasing an additional 101,571 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.35% of Bio-Techne worth $38,218,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TECH. Goldman Sachs Group Inc. boosted its stake in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company's stock valued at $62,379,000 after purchasing an additional 113,634 shares during the last quarter. Woodline Partners LP grew its position in shares of Bio-Techne by 40.0% during the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company's stock worth $783,000 after buying an additional 3,814 shares during the period. EverSource Wealth Advisors LLC increased its stake in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 562 shares in the last quarter. First Trust Advisors LP raised its stake in Bio-Techne by 1,085.7% during the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company's stock worth $5,424,000 after buying an additional 96,527 shares during the period. Finally, Natixis lifted its holdings in shares of Bio-Techne by 82.6% during the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company's stock valued at $1,286,000 after purchasing an additional 11,306 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on TECH shares. Zacks Research raised Bio-Techne from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Stephens set a $73.00 price objective on shares of Bio-Techne and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Benchmark reaffirmed a "hold" rating on shares of Bio-Techne in a report on Wednesday, August 19th. Evercore downgraded shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Finally, Stifel Nicolaus set a $50.00 price target on shares of Bio-Techne in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, Bio-Techne has a consensus rating of "Hold" and an average price target of $68.92.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $72.45 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.62. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 63.00, a price-to-earnings-growth ratio of 8.61 and a beta of 1.28. The company's 50 day simple moving average is $71.81 and its 200 day simple moving average is $60.01.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted 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 firm had revenue of $321.19 million during the quarter, compared to analysts' expectations of $314.63 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Bio-Techne Corp will post 1.76 EPS for the current fiscal year.

Bio-Techne Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.65 per share. 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 dividend on an annualized basis and a dividend yield of 3.6%. Bio-Techne's payout ratio is 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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