Sumitomo Mitsui Trust Group Inc. Raises Holdings in Bio-Techne Co. (NASDAQ:TECH)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 21.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,040,840 shares of the biotechnology company’s stock after buying an additional 354,478 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.28% of Bio-Techne worth $147,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TECH. UMB Bank n.a. lifted its stake in shares of Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 168 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Bio-Techne during the third quarter valued at about $39,000. Quest Partners LLC bought a new stake in shares of Bio-Techne in the 3rd quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Bio-Techne by 60.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after buying an additional 253 shares during the last quarter. Finally, Mather Group LLC. raised its stake in shares of Bio-Techne by 51.5% during the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Insider Activity

In related news, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.90% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.81 on Friday. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The business’s 50 day moving average price is $74.61 and its 200 day moving average price is $74.37. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The firm has a market cap of $11.57 billion, a P/E ratio of 77.46, a P/E/G ratio of 5.42 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. On average, sell-side analysts expect that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, February 14th. Bio-Techne’s dividend payout ratio is currently 34.04%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird increased their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, KeyCorp increased their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.57.

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.