Sumitomo Mitsui Trust Holdings Inc. Has $100.27 Million Position in Bio-Techne Co. (NASDAQ:TECH)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in Bio-Techne Co. (NASDAQ:TECH) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,424,484 shares of the biotechnology company’s stock after selling 16,710 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.91% of Bio-Techne worth $100,269,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TECH. CVA Family Office LLC acquired a new stake in Bio-Techne in the 4th quarter valued at $31,000. Mather Group LLC. purchased a new position in Bio-Techne during the 1st quarter worth $38,000. First Horizon Advisors Inc. boosted its holdings in Bio-Techne by 57.9% during the 4th quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 191 shares during the last quarter. GAMMA Investing LLC purchased a new position in Bio-Techne during the 4th quarter worth $44,000. Finally, Federated Hermes Inc. purchased a new position in Bio-Techne during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Thursday, May 2nd. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a report on Wednesday, May 22nd. Robert W. Baird lifted their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.00.

Bio-Techne Trading Up 0.3 %

Shares of Bio-Techne stock opened at $71.45 on Thursday. The stock’s 50-day simple moving average is $76.30 and its 200 day simple moving average is $72.98. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $89.91. The stock has a market capitalization of $11.26 billion, a P/E ratio of 56.71, a P/E/G ratio of 7.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Bio-Techne Co. will post 1.56 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, May 10th. Bio-Techne’s dividend payout ratio is presently 25.40%.

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.