Baader Bank Aktiengesellschaft Buys 38,082 Shares of Bio-Techne Corp $TECH

Baader Bank Aktiengesellschaft boosted its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 57.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 103,905 shares of the biotechnology company’s stock after buying an additional 38,082 shares during the period. Baader Bank Aktiengesellschaft owned approximately 0.07% of Bio-Techne worth $5,780,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC increased its stake in Bio-Techne by 9.5% in the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock worth $29,100,000 after purchasing an additional 48,838 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in Bio-Techne by 8.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after purchasing an additional 35,165 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bio-Techne by 2.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after buying an additional 41,180 shares during the period. 4D Advisors LLC purchased a new position in Bio-Techne in the second quarter valued at about $2,058,000. Finally, Thrivent Financial for Lutherans boosted its stake in Bio-Techne by 27.0% in the second quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock valued at $11,529,000 after acquiring an additional 47,555 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Performance

NASDAQ TECH opened at $64.80 on Wednesday. The stock has a fifty day simple moving average of $63.37 and a 200-day simple moving average of $59.53. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $10.14 billion, a PE ratio of 127.06, a P/E/G ratio of 4.11 and a beta of 1.48. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $72.16.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company had revenue of $295.88 million for the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Bio-Techne’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s payout ratio is presently 62.75%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, January 21st. UBS Group reissued a “buy” rating and issued a $79.00 price target (up previously from $70.00) on shares of Bio-Techne in a report on Thursday, February 5th. Wells Fargo & Company increased their price objective on Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Evercore increased their price objective on shares of Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.77.

Bio-Techne Profile

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.