Deutsche Bank AG Takes $49.58 Million Position in Bio-Techne Corp $TECH

Deutsche Bank AG acquired a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 701,740 shares of the biotechnology company’s stock, valued at approximately $49,578,000.

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

Bio-Techne Trading Down 0.3%

Shares of NASDAQ:TECH opened at $72.28 on Friday. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The company has a market capitalization of $11.32 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 8.63 and a beta of 1.28. The company has a 50-day simple moving average of $68.92 and a 200 day simple moving average of $59.45.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. Sell-side analysts forecast that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is presently 27.83%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TECH. Evercore downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wells Fargo & Company cut Bio-Techne from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $62.00 to $73.00 in a research note on Thursday, August 13th. TD Cowen downgraded Bio-Techne from a “buy” rating to a “hold” rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research note on Friday, June 26th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Bio-Techne in a report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.92.

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.