7,877 Shares in Bio-Techne Co. (NASDAQ:TECH) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in Bio-Techne Co. (NASDAQ:TECH) in the second quarter, HoldingsChannel.com reports. The firm acquired 7,877 shares of the biotechnology company’s stock, valued at approximately $564,000.

Several other large investors have also modified their holdings of the company. UniSuper Management Pty Ltd increased its holdings in shares of Bio-Techne by 563.1% in the first quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after purchasing an additional 11,667 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Bio-Techne by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after buying an additional 33,709 shares during the last quarter. Tidal Investments LLC raised its position in Bio-Techne by 135.5% during the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock worth $2,252,000 after buying an additional 18,404 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Bio-Techne in the first quarter valued at about $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Bio-Techne by 20.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after acquiring an additional 290,510 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Bio-Techne Stock Performance

Shares of TECH stock opened at $73.59 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The stock 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. Bio-Techne Co. has a 1 year low of $51.79 and a 1 year high of $85.57. The stock has a fifty day moving average price of $74.27 and a 200 day moving average price of $74.39.

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

Bio-Techne Announces Dividend

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

About Bio-Techne

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.