Universal Beteiligungs und Servicegesellschaft mbH Buys New Position in Bio-Techne Co. (NASDAQ:TECH)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Bio-Techne Co. (NASDAQ:TECH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 56,666 shares of the biotechnology company's stock, valued at approximately $4,082,000.

A number of other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Bio-Techne in the fourth quarter valued at approximately $41,000. GeoWealth Management LLC bought a new stake in shares of Bio-Techne during the 4th quarter valued at $43,000. Huntington National Bank grew its holdings in shares of Bio-Techne by 42.6% during the 4th quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 322 shares in the last quarter. Kiely Wealth Advisory Group Inc. increased its position in shares of Bio-Techne by 1,355.6% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 1,048 shares of the biotechnology company's stock worth $81,000 after purchasing an additional 976 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Bio-Techne by 45.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,376 shares of the biotechnology company's stock valued at $99,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 98.95% of the company's stock.

Bio-Techne Trading Up 0.3%

TECH traded up $0.17 during trading on Tuesday, reaching $48.78. 1,835,362 shares of the company's stock were exchanged, compared to its average volume of 1,363,147. The stock has a market capitalization of $7.65 billion, a PE ratio of 49.27, a price-to-earnings-growth ratio of 2.88 and a beta of 1.46. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a one year low of $46.01 and a one year high of $83.62. The firm has a fifty day moving average price of $50.63 and a two-hundred day moving average price of $63.39.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.05. Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. The firm had revenue of $316.18 million for the quarter, compared to analysts' expectations of $317.92 million. During the same period in the prior year, the business earned $0.48 EPS. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that Bio-Techne Co. will post 1.67 earnings per share for the current fiscal year.

Bio-Techne announced that its board has approved a stock repurchase program on Wednesday, May 7th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the biotechnology company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.66%. Bio-Techne's dividend payout ratio is 39.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of Bio-Techne in a report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price target for the company. Wells Fargo & Company initiated coverage on Bio-Techne in a report on Friday. They issued an "overweight" rating and a $59.00 target price on the stock. Scotiabank lifted their price target on Bio-Techne from $88.00 to $90.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 6th. Wall Street Zen raised Bio-Techne from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Citigroup decreased their target price on Bio-Techne from $80.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.00.

About Bio-Techne

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.