UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 101,571 Shares of Bio-Techne Corp $TECH

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Bio-Techne Corp (NASDAQ:TECH) by 23.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 540,944 shares of the biotechnology company’s stock after buying an additional 101,571 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Bio-Techne were worth $38,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Bio-Techne in the second quarter worth approximately $990,924,000. Morgan Stanley grew its holdings in Bio-Techne by 15.3% during the fourth quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after buying an additional 1,107,536 shares in the last quarter. State Street Corp grew its holdings in Bio-Techne by 1.0% during the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock worth $341,806,000 after buying an additional 58,639 shares in the last quarter. Wellington Management Group LLP raised its position in Bio-Techne by 12.1% in the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock valued at $337,219,000 after buying an additional 618,916 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its stake in Bio-Techne by 23.1% during the 1st quarter. Maverick Capital Ltd. now owns 4,739,721 shares of the biotechnology company’s stock valued at $247,698,000 after acquiring an additional 888,798 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TECH shares. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research report on Thursday, May 7th. Leerink Partners set a $73.00 price target on shares of Bio-Techne in a research report on Thursday, June 25th. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Stephens set a $73.00 price objective on Bio-Techne and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Finally, Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Two investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.92.

Bio-Techne Price Performance

TECH stock opened at $72.45 on Friday. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 8.61 and a beta of 1.28. The firm’s 50-day moving average price is $71.81 and its two-hundred day moving average price is $60.01. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. Bio-Techne Corp has a 12-month low of $43.19 and a 12-month high of $72.62.

Bio-Techne (NASDAQ:TECH) last posted its 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. 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 during the quarter, compared to analyst estimates of $314.63 million. During the same period in the prior year, the business posted $0.53 earnings per share. Bio-Techne’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Bio-Techne Corp will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

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

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.