Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Bio-Techne Co. (NASDAQ:TECH) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,441,194 shares of the biotechnology company’s stock after acquiring an additional 19,023 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.91% of Bio-Techne worth $111,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in Bio-Techne in the first quarter valued at $56,000. Harbour Investments Inc. raised its stake in Bio-Techne by 305.0% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 244 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in Bio-Techne in the fourth quarter valued at $29,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bio-Techne in the third quarter valued at $27,000. Finally, CVA Family Office LLC acquired a new stake in Bio-Techne in the fourth quarter valued at $31,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Bio-Techne Stock Performance

NASDAQ TECH opened at $64.01 on Wednesday. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The business’s 50-day moving average price is $70.80 and its 200 day moving average price is $68.74. The firm has a market cap of $10.06 billion, a P/E ratio of 46.38, a P/E/G ratio of 7.41 and a beta of 1.22. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The business had revenue of $272.60 million during the quarter, compared to analysts’ expectations of $277.48 million. On average, equities research analysts expect that Bio-Techne Co. will post 1.53 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Friday, February 9th. Bio-Techne’s dividend payout ratio is presently 23.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TECH shares. Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Friday, February 2nd. Stephens dropped their price objective on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Royal Bank of Canada dropped their price objective on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Finally, Scotiabank started coverage on Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.11.

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.