GAMMA Investing LLC Cuts Stake in Bio-Techne Corp (NASDAQ:TECH)

GAMMA Investing LLC lowered its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 38.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,795 shares of the biotechnology company’s stock after selling 1,101 shares during the quarter. GAMMA Investing LLC’s holdings in Bio-Techne were worth $105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TECH. Itau Unibanco Holding S.A. purchased a new stake in shares of Bio-Techne during the fourth quarter worth about $41,000. GeoWealth Management LLC purchased a new stake in shares of Bio-Techne during the fourth quarter worth about $43,000. Whipplewood Advisors LLC grew its position in shares of Bio-Techne by 30,250.0% during the first quarter. Whipplewood Advisors LLC now owns 1,214 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,210 shares in the last quarter. Huntington National Bank grew its position in shares of Bio-Techne by 42.6% during the fourth quarter. Huntington National Bank now owns 1,078 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 322 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its position in shares of Bio-Techne by 1,355.6% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 1,048 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TECH shares. Evercore ISI started coverage on Bio-Techne in a research note on Tuesday, March 18th. They set an “outperform” rating and a $75.00 price target for the company. Benchmark reissued a “buy” rating and set a $75.00 price target on shares of Bio-Techne in a research note on Thursday, June 5th. UBS Group dropped their price target on Bio-Techne from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Royal Bank Of Canada dropped their price target on Bio-Techne from $72.00 to $63.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Finally, KeyCorp reissued a “sector weight” rating on shares of Bio-Techne in a research note on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $72.00.

Bio-Techne Trading Down 0.1%

TECH stock opened at $53.14 on Monday. The company has a quick ratio of 2.58, a current ratio of 3.71 and a debt-to-equity ratio of 0.16. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $83.62. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 64.80, a price-to-earnings-growth ratio of 2.53 and a beta of 1.39. The firm’s fifty day simple moving average is $49.94 and its two-hundred day simple moving average is $59.53.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Bio-Techne had a net margin of 10.89% and a return on equity of 13.17%. The business had revenue of $316.18 million for the quarter, compared to analysts’ expectations of $317.92 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Monday, May 19th. Bio-Techne’s dividend payout ratio (DPR) is 39.02%.

Bio-Techne announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the biotechnology company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Bio-Techne Profile

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.