Commerce Bank Has $2.53 Million Stake in Bio-Techne Co. (NASDAQ:TECH)

Commerce Bank reduced its stake in shares of Bio-Techne Co. (NASDAQ:TECH) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,644 shares of the biotechnology company’s stock after selling 4,397 shares during the quarter. Commerce Bank’s holdings in Bio-Techne were worth $2,529,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Bio-Techne by 92.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after acquiring an additional 2,755,065 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in 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 valued at $122,879,000 after purchasing an additional 290,510 shares during the last quarter. Mackenzie Financial Corp grew its stake in Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock valued at $205,081,000 after purchasing an additional 216,044 shares in the last quarter. Broadcrest Asset Management LLC increased its position in Bio-Techne by 100.0% in the 3rd quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock worth $15,986,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after purchasing an additional 88,257 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of research reports. Scotiabank increased their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird upped their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada cut their target price 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. Finally, Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $71.28 on Friday. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 75.83, a PEG ratio of 5.19 and a beta of 1.28. The business has a 50 day moving average price of $73.77 and a 200 day moving average price of $75.25. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne Co. has a twelve month low of $61.16 and a twelve month high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts predict 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 was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were given a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.45%. Bio-Techne’s dividend payout ratio is 34.04%.

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.