Mitsubishi UFJ Asset Management Co. Ltd. Makes New $13.95 Million Investment in Bio-Techne Corp $TECH

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 197,426 shares of the biotechnology company’s stock, valued at approximately $13,948,000.

A number of other large investors also recently bought and sold shares of the stock. Danske Bank A S purchased a new position in shares of Bio-Techne during the 4th quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne in the 3rd quarter valued at $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the third quarter worth $33,000. EverSource Wealth Advisors LLC boosted its holdings in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Bio-Techne during the first quarter valued at $37,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Down 0.3%

TECH stock opened at $72.28 on Friday. Bio-Techne Corp has a one year low of $43.19 and a one year high of $72.62. The firm has a market cap of $11.32 billion, a PE ratio of 62.85, a PEG ratio of 8.63 and a beta of 1.28. The firm’s 50 day moving average price is $68.92 and its 200-day moving average price is $59.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $314.63 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. Bio-Techne’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Bio-Techne Corp will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

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

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of analyst reports. Piper Sandler initiated coverage on Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price target for the company. Stephens set a $73.00 price target on shares of Bio-Techne and gave the company an “equal weight” rating in a research note on Friday, June 26th. Zacks Research downgraded shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price for the company. in a research note on Friday, June 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.