GAMMA Investing LLC Grows Stock Holdings in Bio-Techne Co. (NASDAQ:TECH)

GAMMA Investing LLC increased its stake in Bio-Techne Co. (NASDAQ:TECH) by 73.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,093 shares of the biotechnology company’s stock after buying an additional 463 shares during the period. GAMMA Investing LLC’s holdings in Bio-Techne were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $119,771,000. Brown Advisory Inc. increased its holdings in shares of Bio-Techne by 1,094.6% in the 4th quarter. Brown Advisory Inc. now owns 809,635 shares of the biotechnology company’s stock worth $62,471,000 after purchasing an additional 741,860 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Bio-Techne by 1,389.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 784,543 shares of the biotechnology company’s stock worth $60,535,000 after purchasing an additional 731,869 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Bio-Techne by 4,482.1% during the fourth quarter. Corient Private Wealth LLC now owns 633,790 shares of the biotechnology company’s stock valued at $48,903,000 after purchasing an additional 619,958 shares in the last quarter. Finally, Brown Capital Management LLC boosted its position in shares of Bio-Techne by 12.4% during the fourth quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock valued at $273,994,000 after buying an additional 392,986 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Wall Street Analysts Forecast Growth

TECH has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a report on Wednesday, May 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $73.66 on Monday. The stock has a 50-day simple moving average of $74.88 and a two-hundred day simple moving average of $72.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The firm has a market capitalization of $11.61 billion, a PE ratio of 58.46, a P/E/G ratio of 8.95 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The company had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. Analysts forecast that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s payout ratio is 25.40%.

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.