Sanctuary Advisors LLC Takes Position in Bio-Techne Co. (NASDAQ:TECH)

Sanctuary Advisors LLC acquired a new position in Bio-Techne Co. (NASDAQ:TECH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,877 shares of the biotechnology company’s stock, valued at approximately $564,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bio-Techne by 92.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after acquiring an additional 2,755,065 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Bio-Techne by 8.2% during the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after purchasing an additional 216,044 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Bio-Techne by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after buying an additional 88,257 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Bio-Techne by 20.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after buying an additional 290,510 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Bio-Techne by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company’s stock valued at $70,095,000 after buying an additional 12,991 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bio-Techne Trading Down 0.3 %

Shares of NASDAQ:TECH opened at $73.59 on Wednesday. The company has a market cap of $11.68 billion, a PE ratio of 70.76, a P/E/G ratio of 5.27 and a beta of 1.27. The company’s 50 day moving average is $74.27 and its two-hundred day moving average is $74.39. Bio-Techne Co. has a 52 week low of $51.79 and a 52 week high of $85.57. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15.

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

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio is presently 23.08%.

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.