Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Bio-Techne Co. (NASDAQ:TECH) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,347 shares of the biotechnology company’s stock after acquiring an additional 289 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Bio-Techne were worth $1,307,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Bleakley Financial Group LLC increased its stake in Bio-Techne by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 214 shares during the period. Exchange Traded Concepts LLC acquired a new position in Bio-Techne in the 3rd quarter valued at approximately $185,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Bio-Techne by 674.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,378 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 1,200 shares during the period. Contravisory Investment Management Inc. acquired a new position in Bio-Techne in the 3rd quarter valued at approximately $469,000. Finally, Mather Group LLC. increased its stake in Bio-Techne by 51.5% in the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ TECH opened at $69.95 on Wednesday. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $74.02 and a 200 day simple moving average of $74.50. The company has a market cap of $11.10 billion, a P/E ratio of 67.26, a P/E/G ratio of 5.15 and a beta of 1.27. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $85.57.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. Bio-Techne’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, sell-side analysts predict that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $80.60.

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.