Bio-Techne Corp $TECH Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Bio-Techne Corp by 2.1%, now holding approximately 944,327 shares worth about $55 million.
• Analysts have varying price targets for Bio-Techne, with Citigroup setting a new target of $70, amidst multiple ratings changes from different financial institutions.
• Bio-Techne reported a quarterly earnings per share (EPS) of $0.53, exceeding analyst expectations, and has also declared a quarterly dividend with a yield of 0.6%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 944,327 shares of the biotechnology company's stock after purchasing an additional 19,606 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.60% of Bio-Techne worth $55,366,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TECH. CX Institutional purchased a new position in shares of Bio-Techne in the 1st quarter valued at $27,000. AlphaQuest LLC purchased a new position in shares of Bio-Techne in the 1st quarter valued at $34,000. Federated Hermes Inc. purchased a new position in shares of Bio-Techne in the 1st quarter valued at $41,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Bio-Techne by 1,239.1% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 924 shares of the biotechnology company's stock valued at $54,000 after acquiring an additional 855 shares during the period. Finally, Horizon Financial Services LLC purchased a new position in shares of Bio-Techne in the 1st quarter valued at $69,000. Hedge funds and other institutional investors own 98.95% of the company's stock.

Analyst Ratings Changes

TECH has been the topic of a number of research reports. Stephens raised shares of Bio-Techne to a "strong-buy" rating and set a $65.00 target price on the stock in a research note on Tuesday, July 22nd. TD Cowen initiated coverage on shares of Bio-Techne in a research note on Wednesday, July 9th. They issued a "buy" rating and a $65.00 target price on the stock. Scotiabank cut their target price 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. Wall Street Zen lowered shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Royal Bank Of Canada raised shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Bio-Techne presently has a consensus rating of "Moderate Buy" and an average target price of $70.42.

Bio-Techne Stock Up 0.3%

TECH stock traded up $0.16 during mid-day trading on Friday, hitting $53.15. 4,477,832 shares of the company were exchanged, compared to its average volume of 2,124,930. The company has a market capitalization of $8.33 billion, a PE ratio of 115.55, a price-to-earnings-growth ratio of 3.38 and a beta of 1.47. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.80. The firm has a fifty day simple moving average of $53.83 and a 200 day simple moving average of $53.04.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data 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 during 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 firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. On average, research analysts forecast that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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