Sumitomo Mitsui DS Asset Management Company Ltd Buys 289 Shares of Bio-Techne Co. (NASDAQ:TECH)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Bio-Techne Co. (NASDAQ:TECH) by 1.8% in the third quarter, Holdings Channel.com reports. The firm owned 16,347 shares of the biotechnology company’s stock after acquiring an additional 289 shares during the period. 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 Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Mather Group LLC. bought a new position in shares of Bio-Techne during the 1st quarter worth about $38,000. AdvisorNet Financial Inc lifted its holdings in shares of Bio-Techne by 680.0% during the 1st quarter. AdvisorNet Financial Inc now owns 3,307 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 2,883 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Bio-Techne by 11.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,978 shares of the biotechnology company’s stock worth $1,969,000 after acquiring an additional 2,913 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in shares of Bio-Techne by 2.3% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 44,570 shares of the biotechnology company’s stock worth $3,137,000 after acquiring an additional 1,023 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Bio-Techne by 25.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 18,440 shares of the biotechnology company’s stock worth $1,298,000 after acquiring an additional 3,775 shares during the period. 98.95% of the stock is owned by institutional investors.

Bio-Techne Trading Down 0.6 %

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 stock has a market capitalization of $11.10 billion, a PE ratio of 67.26, a PEG 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. The firm has a 50-day moving average price of $74.02 and a two-hundred day moving average price of $74.50.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $306.10 million during 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 company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. As a group, equities analysts anticipate that Bio-Techne Co. will post 1.7 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TECH. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada reduced their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Finally, Robert W. Baird increased their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.60.

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.