GAMMA Investing LLC Purchases 591 Shares of Bio-Techne Co. (NASDAQ:TECH)

GAMMA Investing LLC raised its position in Bio-Techne Co. (NASDAQ:TECH) by 30.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,563 shares of the biotechnology company’s stock after buying an additional 591 shares during the period. GAMMA Investing LLC’s holdings in Bio-Techne were worth $205,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TECH. Polen Capital Management LLC purchased a new position in Bio-Techne in the fourth quarter worth $1,727,000. V Square Quantitative Management LLC boosted its holdings in shares of Bio-Techne by 18.6% in the 4th quarter. V Square Quantitative Management LLC now owns 4,094 shares of the biotechnology company’s stock worth $316,000 after buying an additional 641 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Bio-Techne by 32.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 734,337 shares of the biotechnology company’s stock valued at $56,661,000 after buying an additional 181,376 shares during the period. Richardson Financial Services Inc. purchased a new stake in Bio-Techne during the fourth quarter worth about $68,000. Finally, Wahed Invest LLC raised its position in Bio-Techne by 9.0% in the fourth quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TECH shares. Royal Bank of Canada reduced their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Robert W. Baird upped their price target on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $73.36 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The stock has a market cap of $11.64 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 5.36 and a beta of 1.27. The stock has a fifty day moving average of $74.35 and a 200-day moving average of $74.29.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Bio-Techne Co. will post 1.7 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 30.77%.

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.