Baader Bank Aktiengesellschaft Decreases Holdings in Bio-Techne Corp $TECH

Baader Bank Aktiengesellschaft decreased its position in shares of Bio-Techne Corp (NASDAQ:TECH) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,910 shares of the biotechnology company’s stock after selling 11,995 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Bio-Techne were worth $5,405,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Bio-Techne during the fourth quarter valued at approximately $29,000. eCIO Inc. acquired a new stake in shares of Bio-Techne in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Bio-Techne in the third quarter worth $32,000. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne in the third quarter worth $33,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TECH shares. Citigroup cut their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company cut their price objective on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Finally, Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $66.77.

Bio-Techne Stock Performance

TECH opened at $44.89 on Thursday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 65.06, a PEG ratio of 3.59 and a beta of 1.41. Bio-Techne Corp has a 52-week low of $44.12 and a 52-week high of $72.16. The firm’s fifty day simple moving average is $53.52 and its two-hundred day simple moving average is $59.06.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. Equities analysts anticipate that Bio-Techne Corp will post 1.72 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is presently 46.38%.

Bio-Techne Company 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.