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

Sumitomo Mitsui Trust Holdings Inc. grew its position in Bio-Techne Co. (NASDAQ:TECH) by 1.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,441,194 shares of the biotechnology company’s stock after buying an additional 19,023 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Bio-Techne were worth $111,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Bio-Techne in the 3rd quarter worth about $27,000. Harbour Investments Inc. grew its position in Bio-Techne by 305.0% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in Bio-Techne in the 4th quarter worth about $29,000. CVA Family Office LLC bought a new position in Bio-Techne in the 4th quarter worth about $31,000. Finally, Lazard Asset Management LLC grew its position in Bio-Techne by 447.5% in the 4th quarter. Lazard Asset Management LLC now owns 553 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 452 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 2.3 %

Shares of NASDAQ:TECH opened at $64.01 on Wednesday. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 7.41 and a beta of 1.22. Bio-Techne Co. has a 1-year low of $51.79 and a 1-year high of $89.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37. The company has a 50 day moving average price of $70.80 and a 200 day moving average price of $68.74.

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

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were given a $0.08 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Analysts Set New Price Targets

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

Insider Activity at Bio-Techne

In related news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares in the company, valued at approximately $3,317,607.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by insiders.

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.