Sage Mountain Advisors LLC Takes $230,000 Position in Bio-Techne Corp $TECH

Sage Mountain Advisors LLC bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the 2nd quarter, Holdings Channel reports. The fund bought 4,462 shares of the biotechnology company’s stock, valued at approximately $230,000.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Bio-Techne by 17.9% in 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 stake in shares of Bio-Techne in the 1st quarter valued at approximately $1,362,000. Park Avenue Securities LLC acquired a new stake in shares of Bio-Techne in the 2nd quarter valued at approximately $270,000. Public Employees Retirement System of Ohio raised its position in shares of Bio-Techne by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 49,542 shares of the biotechnology company’s stock valued at $2,549,000 after acquiring an additional 457 shares during the period. Finally, Amalgamated Bank raised its position in shares of Bio-Techne by 0.7% in the 1st quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company’s stock valued at $1,797,000 after acquiring an additional 222 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of TECH opened at $65.90 on Monday. The stock has a market capitalization of $10.26 billion, a P/E ratio of 143.26, a P/E/G ratio of 3.85 and a beta of 1.48. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.80. The company has a 50 day moving average of $56.44 and a 200-day moving average of $53.02. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18.

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. As a group, equities research analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 69.57%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TECH shares. Stephens upgraded shares of Bio-Techne to a “strong-buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, July 22nd. TD Cowen increased their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a research report on Friday. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $70.00 in a report on Thursday, August 21st. Finally, Royal Bank Of Canada upgraded shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.58.

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.