Legal Advantage Investments Inc. Acquires 5,000 Shares of Bio-Techne Corp $TECH

Key Points

• Legal Advantage Investments Inc. increased its holdings in Bio-Techne Corp by 40.2%, acquiring an additional 5,000 shares in the second quarter, bringing its total to 17,435 shares worth approximately $897,000.
• Institutional ownership of Bio-Techne is notably high at 98.95%, with various other institutional investors also increasing their holdings significantly during the first quarter.
• Bio-Techne reported a quarterly earnings of $0.53 EPS, exceeding analysts' expectations, and has recently declared a quarterly dividend yielding 0.5%.

Legal Advantage Investments Inc. increased its holdings in Bio-Techne Corp (NASDAQ:TECH - Free Report) by 40.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,435 shares of the biotechnology company's stock after acquiring an additional 5,000 shares during the period. Legal Advantage Investments Inc.'s holdings in Bio-Techne were worth $897,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TECH. SG Americas Securities LLC grew its holdings in shares of Bio-Techne by 602.1% in the first quarter. SG Americas Securities LLC now owns 49,154 shares of the biotechnology company's stock valued at $2,882,000 after acquiring an additional 42,153 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Bio-Techne by 20.9% in the first quarter. Assenagon Asset Management S.A. now owns 52,339 shares of the biotechnology company's stock valued at $3,069,000 after acquiring an additional 9,041 shares in the last quarter. CX Institutional bought a new position in Bio-Techne during the first quarter valued at $27,000. Azzad Asset Management Inc. ADV grew its holdings in Bio-Techne by 1.6% during the first quarter. Azzad Asset Management Inc. ADV now owns 46,753 shares of the biotechnology company's stock valued at $2,741,000 after purchasing an additional 737 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Bio-Techne by 21.2% during the first quarter. Exchange Traded Concepts LLC now owns 2,803 shares of the biotechnology company's stock valued at $164,000 after purchasing an additional 490 shares during the period. 98.95% of the stock is owned by institutional investors.

Bio-Techne Price Performance

Bio-Techne stock opened at $58.66 on Friday. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.80. The business has a fifty day moving average price of $54.47 and a 200-day moving average price of $52.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The firm has a market capitalization of $9.13 billion, a P/E ratio of 127.52, a PEG ratio of 3.74 and a beta of 1.48.

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

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.08 dividend. 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 (DPR) is presently 69.57%.

Analysts Set New Price Targets

Several brokerages have weighed in on TECH. Weiss Ratings reissued a "sell (d+)" rating on shares of Bio-Techne in a report on Wednesday. Stephens raised Bio-Techne to a "strong-buy" rating and set a $65.00 price objective for the company in a report on Tuesday, July 22nd. TD Cowen began coverage on Bio-Techne in a report on Wednesday, July 9th. They set a "buy" rating and a $65.00 price objective for the company. Zacks Research raised Bio-Techne from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Finally, Citigroup raised Bio-Techne from a "neutral" rating to a "buy" rating and increased their price objective for the company from $55.00 to $70.00 in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.17.

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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