Bio-Techne (NASDAQ:TECH) Hits New 1-Year Low at $297.01

Shares of Bio-Techne Co. (NASDAQ:TECHGet Rating) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $297.01 and last traded at $297.46, with a volume of 1058 shares changing hands. The stock had previously closed at $303.98.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stephens lowered their target price on shares of Bio-Techne from $500.00 to $480.00 and set an “overweight” rating for the company in a report on Friday, August 5th. Robert W. Baird decreased their price objective on shares of Bio-Techne from $500.00 to $470.00 in a report on Friday, August 5th. Credit Suisse Group began coverage on shares of Bio-Techne in a report on Wednesday, August 24th. They issued an “outperform” rating and a $465.00 price objective for the company. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Friday, September 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Bio-Techne from $370.00 to $360.00 and set an “underweight” rating for the company in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $475.00.

Bio-Techne Stock Performance

The business’s 50-day simple moving average is $351.13 and its 200 day simple moving average is $372.76. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.64 and a current ratio of 3.44. The firm has a market cap of $11.62 billion, a P/E ratio of 44.75, a P/E/G ratio of 1.64 and a beta of 1.25.

Bio-Techne (NASDAQ:TECHGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.03). The company had revenue of $288.30 million during the quarter, compared to analysts’ expectations of $287.04 million. Bio-Techne had a return on equity of 16.97% and a net margin of 24.61%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. As a group, equities analysts predict that Bio-Techne Co. will post 7.73 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, August 12th. Bio-Techne’s payout ratio is currently 19.34%.

Insider Activity at Bio-Techne

In related news, Director John L. Higgins sold 1,992 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $377.11, for a total transaction of $751,203.12. Following the completion of the transaction, the director now owns 6,014 shares in the company, valued at approximately $2,267,939.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bio-Techne

Several hedge funds have recently made changes to their positions in TECH. Tcwp LLC purchased a new stake in shares of Bio-Techne in the 1st quarter worth $25,000. Castleview Partners LLC bought a new position in shares of Bio-Techne in the 4th quarter worth $36,000. Aaron Wealth Advisors LLC bought a new position in shares of Bio-Techne in the 1st quarter worth $42,000. Ellevest Inc. raised its position in shares of Bio-Techne by 56.5% in the 1st quarter. Ellevest Inc. now owns 108 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 39 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Bio-Techne during the 1st quarter valued at about $56,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.

About Bio-Techne

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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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