Generali Investments Towarzystwo Funduszy Inwestycyjnych Buys 6,000 Shares of Bio-Techne Corp $TECH

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Bio-Techne Corp by 27.3%, acquiring an additional 6,000 shares, bringing their total holdings to 28,000 shares valued at approximately $1.44 million.
• Bio-Techne reported $0.53 earnings per share for the latest quarter, exceeding analyst expectations of $0.50, with quarterly revenue increasing by 3.6% year-over-year.
• The company declared a quarterly dividend of $0.08 per share, translating to an annual dividend yield of 0.5%, with a payout ratio of 69.57%.

Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its stake in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 27.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,000 shares of the biotechnology company's stock after purchasing an additional 6,000 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Bio-Techne were worth $1,441,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TECH. Smartleaf Asset Management LLC increased its position in shares of Bio-Techne by 5.1% during the first quarter. Smartleaf Asset Management LLC now owns 4,300 shares of the biotechnology company's stock valued at $253,000 after buying an additional 210 shares during the period. Amalgamated Bank boosted its position in Bio-Techne by 0.7% during 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bio-Techne by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,005 shares of the biotechnology company's stock worth $1,994,000 after acquiring an additional 249 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Bio-Techne by 1.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 18,187 shares of the biotechnology company's stock worth $935,000 after acquiring an additional 261 shares in the last quarter. Finally, NorthRock Partners LLC lifted its stake in shares of Bio-Techne by 4.2% in the 1st quarter. NorthRock Partners LLC now owns 6,936 shares of the biotechnology company's stock valued at $407,000 after purchasing an additional 277 shares during the period. Institutional investors own 98.95% of the company's stock.

Bio-Techne Trading Up 3.6%

Shares of NASDAQ TECH opened at $66.06 on Friday. The firm's 50 day moving average price is $56.20 and its 200-day moving average price is $52.88. Bio-Techne Corp has a 52-week low of $46.01 and a 52-week high of $80.80. 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 cap of $10.28 billion, a PE ratio of 143.61, a P/E/G ratio of 3.73 and a beta of 1.48.

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

Bio-Techne Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TECH shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Bio-Techne in a report on Wednesday, October 8th. Zacks Research upgraded shares of Bio-Techne from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Citigroup raised shares of Bio-Techne from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $70.00 in a research report on Thursday, August 21st. Stephens upgraded shares of Bio-Techne to a "strong-buy" rating and set a $65.00 price objective on the stock in a report on Tuesday, July 22nd. Finally, Cowen reiterated a "buy" rating on shares of Bio-Techne in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Bio-Techne presently has an average rating of "Moderate Buy" and an average target price of $70.58.

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.

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