Zacks Investment Research upgraded shares of Bio-Techne Corp (NASDAQ:TECH) from a hold rating to a buy rating in a research note released on Thursday, July 6th. Zacks Investment Research currently has $131.00 price target on the biotechnology company’s stock.

According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “

Other research analysts also recently issued research reports about the company. BidaskClub downgraded Bio-Techne Corp from a buy rating to a hold rating in a report on Tuesday, June 13th. Citigroup Inc. reaffirmed a buy rating and set a $125.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. TheStreet raised Bio-Techne Corp from a c+ rating to a b rating in a report on Tuesday, May 2nd. Deutsche Bank AG reaffirmed a buy rating and set a $122.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Finally, Janney Montgomery Scott downgraded Bio-Techne Corp from a buy rating to a neutral rating in a report on Monday, March 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Bio-Techne Corp presently has an average rating of Buy and a consensus price target of $123.20.

Shares of Bio-Techne Corp (NASDAQ TECH) traded down 0.45% during trading on Thursday, hitting $114.88. The stock had a trading volume of 113,315 shares. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $119.98. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 61.80 and a beta of 0.79. The stock’s 50 day moving average is $115.98 and its 200 day moving average is $108.12.

Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Bio-Techne Corp had a return on equity of 13.80% and a net margin of 12.86%. The firm had revenue of $144.04 million for the quarter, compared to the consensus estimate of $142.83 million. During the same quarter in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Bio-Techne Corp will post $3.62 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and republished in violation of US and international trademark & copyright law. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/04/zacks-investment-research-upgrades-bio-techne-corp-tech-to-buy-updated-updated-updated.html.

In other Bio-Techne Corp news, Director Karen A. Holbrook sold 5,000 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $111.15, for a total transaction of $555,750.00. Following the completion of the sale, the director now owns 6,973 shares in the company, valued at approximately $775,048.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 10,300 shares of company stock valued at $1,146,707 in the last quarter. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds have recently modified their holdings of TECH. Israel Discount Bank of New York purchased a new stake in Bio-Techne Corp during the first quarter worth approximately $105,000. Flinton Capital Management LLC boosted its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares during the period. Israel Discount Bank of New York GFN purchased a new position in Bio-Techne Corp during the fourth quarter worth about $127,000. Meadow Creek Investment Management LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares in the last quarter. Institutional investors own 96.94% of the company’s stock.

About Bio-Techne Corp

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.

Get a free copy of the Zacks research report on Bio-Techne Corp (TECH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Bio-Techne Corp (NASDAQ:TECH)

Receive News & Stock Ratings for Bio-Techne Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne Corp and related stocks with our FREE daily email newsletter.