Bio-Techne Co. (NASDAQ:TECH) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings, a Japanese institutional investor, boosted its ownership of Bio-Techne Co. (NASDAQ: TECH) during the fourth quarter of 2020, according to the company's latest Form 13F filing with the Securities and Exchange Commission (SEC). The filing disclosed that Sumitomo Mitsui Trust Holdings held 1,441,194 shares of Bio-Techne's common stock as of December 31, 2020, representing a 1.3% increase from the 1,422,171 shares it owned at the end of the third quarter of 2020.

The additional shares acquired by Sumitomo Mitsui Trust Holdings amounted to 19,023, according to the filing. This purchase was made during the open market, and the exact date of the transaction was not disclosed in the filing.

Bio-Techne is a biotechnology company based in Minneapolis, Minnesota, that provides research and diagnostic tools for the life sciences industry. Its products are used for research purposes in various fields, including oncology, immunology, and neuroscience, among others. The company's revenue for the fiscal year 2020 was $1.1 billion, and it reported net income of $192.3 million for the same period.

Sumitomo Mitsui Trust Holdings is a leading financial services company based in Japan, with assets under management of over $500 billion as of December 31, 2020. The company provides a range of financial services, including asset management, trust banking, and securities services, to both individual and institutional clients.

The increase in Sumitomo Mitsui Trust Holdings' stake in Bio-Techne could be seen as a positive sign for the biotechnology company, as institutional investors often hold significant influence over the stock market and their buying or selling activities can impact stock prices. However, it is essential to note that the Form 13F filing is just a snapshot of the institutional investor's holdings as of a specific date and does not necessarily reflect current holdings or future investment intentions.