Bio-Techne (NASDAQ:TECH) Receives New Coverage from Analysts at Scotiabank

Scotiabank began coverage on shares of Bio-Techne (NASDAQ:TECHFree Report) in a research note published on Thursday, Briefing.com reports. The brokerage issued a sector outperform rating and a $80.00 price target on the biotechnology company’s stock.

Several other research firms have also recently weighed in on TECH. Citigroup reduced their price objective on Bio-Techne from $100.00 to $80.00 and set a buy rating for the company in a research report on Wednesday, November 1st. TheStreet cut Bio-Techne from a b- rating to a c+ rating in a research report on Wednesday, October 11th. Stifel Nicolaus cut Bio-Techne from a buy rating to a hold rating and set a $65.00 price target for the company. in a research report on Friday, February 2nd. Stephens reduced their price target on Bio-Techne from $92.00 to $87.00 and set an overweight rating for the company in a research report on Friday, February 2nd. Finally, KeyCorp reduced their price target on Bio-Techne from $115.00 to $80.00 and set an overweight rating for the company in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $84.11.

Read Our Latest Report on Bio-Techne

Bio-Techne Stock Down 1.5 %

TECH stock opened at $66.36 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The stock has a market capitalization of $10.49 billion, a P/E ratio of 48.09, a P/E/G ratio of 6.84 and a beta of 1.24. The business has a 50-day moving average of $71.86 and a 200-day moving average of $71.15. Bio-Techne has a fifty-two week low of $51.79 and a fifty-two week high of $89.91.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.48%. Bio-Techne’s payout ratio is 23.19%.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds and other institutional investors have recently modified their holdings of TECH. Private Advisor Group LLC increased its stake in shares of Bio-Techne by 31.2% in the 1st quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock valued at $680,000 after purchasing an additional 374 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Bio-Techne by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock worth $2,276,000 after acquiring an additional 325 shares during the last quarter. Raymond James Trust N.A. grew its position in Bio-Techne by 8.0% during the 1st quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock worth $635,000 after acquiring an additional 108 shares during the last quarter. Synovus Financial Corp grew its position in Bio-Techne by 13.3% during the 1st quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock worth $848,000 after acquiring an additional 230 shares during the last quarter. Finally, Aviva PLC grew its position in shares of Bio-Techne by 9.9% in the 1st quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock valued at $7,491,000 after buying an additional 1,552 shares during the last quarter. Institutional investors own 94.64% of the company’s stock.

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 in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.

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Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

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