BIO-TECHNE Corp (TECH) Shares Bought by Comerica Bank
Comerica Bank raised its stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,935 shares of the biotechnology company’s stock after purchasing an additional 1,883 shares during the period. Comerica Bank’s holdings in BIO-TECHNE were worth $4,656,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of TECH. JPMorgan Chase & Co. increased its position in BIO-TECHNE by 665.7% during the second quarter. JPMorgan Chase & Co. now owns 6,034 shares of the biotechnology company’s stock worth $709,000 after purchasing an additional 5,246 shares during the last quarter. Dimensional Fund Advisors LP increased its position in BIO-TECHNE by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 192,251 shares of the biotechnology company’s stock worth $22,590,000 after purchasing an additional 4,157 shares during the last quarter. Stifel Financial Corp increased its position in BIO-TECHNE by 2.0% during the second quarter. Stifel Financial Corp now owns 9,103 shares of the biotechnology company’s stock worth $1,072,000 after purchasing an additional 175 shares during the last quarter. AHL Partners LLP grew its stake in BIO-TECHNE by 270.8% during the second quarter. AHL Partners LLP now owns 7,645 shares of the biotechnology company’s stock worth $899,000 after buying an additional 5,583 shares during the period. Finally, State Street Corp grew its stake in BIO-TECHNE by 0.5% during the second quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock worth $116,891,000 after buying an additional 5,078 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.
Several research firms have issued reports on TECH. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Saturday, February 10th. Robert W. Baird boosted their price objective on shares of BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Craig Hallum reiterated a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $145.00.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The company had revenue of $154.15 million during the quarter, compared to the consensus estimate of $145.93 million. During the same period in the previous year, the firm earned $0.81 earnings per share. BIO-TECHNE’s revenue for the quarter was up 16.9% on a year-over-year basis. sell-side analysts predict that BIO-TECHNE Corp will post 3.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.91%. BIO-TECHNE’s dividend payout ratio (DPR) is presently 41.97%.
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Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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