Bio-Techne (NASDAQ:TECH) Reaches New 12-Month 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. Wells Fargo & Company lowered their target price 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. Robert W. Baird lowered their target price on shares of Bio-Techne from $500.00 to $470.00 in a report on Friday, August 5th. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Friday, September 9th. Finally, 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. 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 company has a market capitalization of $11.62 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25. The business’s fifty day moving average is $351.13 and its two-hundred day moving average is $372.76. The company has a current ratio of 3.44, a quick ratio of 2.64 and a debt-to-equity ratio of 0.14.

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

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, August 12th. Bio-Techne’s dividend payout ratio (DPR) is 19.34%.

Insider Transactions 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. Company insiders own 4.45% of the company’s stock.

Hedge Funds Weigh In On Bio-Techne

Large investors have recently bought and sold shares of the business. Tcwp LLC purchased a new position in Bio-Techne during the 1st quarter valued at $25,000. Castleview Partners LLC purchased a new position in Bio-Techne during the 4th quarter valued at $36,000. Aaron Wealth Advisors LLC purchased a new position in Bio-Techne during the 1st quarter valued at $42,000. Ellevest Inc. boosted its holdings in Bio-Techne by 56.5% during the 1st quarter. Ellevest Inc. now owns 108 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 39 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Bio-Techne during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 94.35% of the company’s stock.

About Bio-Techne

(Get Rating)

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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