GAMMA Investing LLC Acquires 800 Shares of Bio-Techne Corp $TECH

GAMMA Investing LLC lifted its position in Bio-Techne Corp (NASDAQ:TECH) by 44.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,595 shares of the biotechnology company’s stock after buying an additional 800 shares during the quarter. GAMMA Investing LLC’s holdings in Bio-Techne were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TECH. Mirae Asset Global Investments Co. Ltd. raised its stake in Bio-Techne by 17.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,630 shares of the biotechnology company’s stock valued at $1,153,000 after purchasing an additional 2,980 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Bio-Techne during the 1st quarter valued at $1,362,000. CX Institutional acquired a new position in shares of Bio-Techne in the 1st quarter valued at $27,000. State of Alaska Department of Revenue raised its stake in shares of Bio-Techne by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company’s stock valued at $1,086,000 after buying an additional 405 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Bio-Techne by 20.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 52,339 shares of the biotechnology company’s stock valued at $3,069,000 after buying an additional 9,041 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of TECH stock opened at $55.63 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The company has a market capitalization of $8.66 billion, a P/E ratio of 120.94, a price-to-earnings-growth ratio of 3.33 and a beta of 1.47. The company’s 50 day moving average price is $53.89 and its two-hundred day moving average price is $52.53. Bio-Techne Corp has a 52 week low of $46.01 and a 52 week high of $80.80.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $316.96 million during the quarter, compared to analysts’ expectations of $315.14 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. On average, analysts expect that Bio-Techne Corp will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio (DPR) is currently 69.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TECH shares. TD Cowen started coverage on shares of Bio-Techne in a research note on Wednesday, July 9th. They issued a “buy” rating and a $65.00 price objective for the company. Wall Street Zen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Scotiabank decreased their price objective on shares of Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Friday, July 11th. Benchmark reissued a “buy” rating and set a $75.00 price objective on shares of Bio-Techne in a report on Thursday, June 5th. Finally, Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $70.42.

Bio-Techne Company 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.