GAMMA Investing LLC Purchases New Position in Bio-Techne Co. (NASDAQ:TECH)

GAMMA Investing LLC acquired a new stake in Bio-Techne Co. (NASDAQ:TECH) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 630 shares of the biotechnology company’s stock, valued at approximately $44,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in shares of Bio-Techne by 831.4% during the 4th quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock valued at $3,565,000 after acquiring an additional 41,244 shares in the last quarter. Andra AP fonden increased its stake in shares of Bio-Techne by 113.4% in the third quarter. Andra AP fonden now owns 39,900 shares of the biotechnology company’s stock valued at $2,716,000 after buying an additional 21,200 shares during the period. Deutsche Bank AG raised its holdings in Bio-Techne by 11.1% in the 3rd quarter. Deutsche Bank AG now owns 611,813 shares of the biotechnology company’s stock valued at $41,646,000 after buying an additional 61,190 shares during the last quarter. Nordea Investment Management AB boosted its position in Bio-Techne by 7.8% during the 4th quarter. Nordea Investment Management AB now owns 10,494 shares of the biotechnology company’s stock worth $815,000 after buying an additional 761 shares during the period. Finally, Diversified Trust Co grew its holdings in Bio-Techne by 32.6% during the 3rd quarter. Diversified Trust Co now owns 12,826 shares of the biotechnology company’s stock worth $873,000 after acquiring an additional 3,156 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Up 2.2 %

Shares of NASDAQ TECH opened at $77.29 on Friday. Bio-Techne Co. has a 12-month low of $51.79 and a 12-month high of $89.91. The company has a quick ratio of 3.03, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The firm has a market cap of $12.15 billion, a PE ratio of 61.34, a P/E/G ratio of 9.41 and a beta of 1.23. The company’s fifty day simple moving average is $69.76 and its 200 day simple moving average is $68.55.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. As a group, sell-side analysts forecast that Bio-Techne Co. will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, May 10th. Bio-Techne’s payout ratio is 25.40%.

Analyst Ratings Changes

A number of analysts recently weighed in on TECH shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Thursday. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Royal Bank of Canada dropped their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Finally, Robert W. Baird increased their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.45% of the stock is currently owned by insiders.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.