Bio-Techne Co. (NASDAQ:TECH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $83.90.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank began coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price target on the stock. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Friday, February 2nd. Royal Bank of Canada dropped their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Finally, Stephens cut their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd.

Insider Activity

In related news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds and other institutional investors have recently bought and sold shares of TECH. Quantbot Technologies LP bought a new stake in shares of Bio-Techne during the first quarter worth about $56,000. Harbour Investments Inc. grew its holdings in Bio-Techne by 305.0% during the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in Bio-Techne in the 4th quarter valued at approximately $29,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Bio-Techne during the third quarter valued at $27,000. Finally, CVA Family Office LLC acquired a new position in shares of Bio-Techne during the fourth quarter worth $31,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Down 0.8 %

NASDAQ TECH opened at $62.21 on Friday. Bio-Techne has a 12 month low of $51.79 and a 12 month high of $89.91. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $70.61 and a 200-day moving average of $68.65. The company has a market cap of $9.78 billion, a PE ratio of 45.08, a PEG ratio of 7.24 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $272.60 million during the quarter, compared to analyst estimates of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. On average, equities research analysts anticipate that Bio-Techne will post 1.53 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, February 9th. Bio-Techne’s payout ratio is 23.19%.

Bio-Techne Company 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.