Commerce Bank Acquires New Position in Bio-Techne Corp $TECH

Commerce Bank bought a new position in Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to its most recent filing with the SEC. The firm bought 33,609 shares of the biotechnology company’s stock, valued at approximately $2,374,000.

Several other large investors also recently bought and sold shares of TECH. Danske Bank A S acquired a new stake in shares of Bio-Techne during the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne during the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne in the third quarter valued at about $33,000. Avalon Trust Co acquired a new position in shares of Bio-Techne in the second quarter valued at about $42,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Bio-Techne in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 0.1%

Shares of TECH stock opened at $72.39 on Tuesday. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.62. The stock has a market cap of $11.35 billion, a P/E ratio of 62.95, a P/E/G ratio of 8.61 and a beta of 1.28. The stock has a 50 day moving average of $69.61 and a 200 day moving average of $59.55. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, sell-side analysts expect that Bio-Techne Corp will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, August 24th. Bio-Techne’s payout ratio is currently 27.83%.

Wall Street Analyst Weigh In

TECH has been the topic of a number of recent research reports. Evercore lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Piper Sandler initiated coverage on shares of Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price target for the company. Benchmark restated a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a report on Thursday, June 25th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Bio-Techne in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.92.

Bio-Techne Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.