BIO-TECHNE Corp (TECH) Receives Average Rating of “Buy” from Brokerages
Shares of BIO-TECHNE Corp (NASDAQ:TECH) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $126.33.
Several research firms have recently issued reports on TECH. BidaskClub upgraded shares of BIO-TECHNE Corp from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Deutsche Bank AG upped their target price on shares of BIO-TECHNE Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of BIO-TECHNE Corp from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Citigroup Inc. reiterated a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of BIO-TECHNE Corp in a research note on Wednesday, May 3rd. Finally, TheStreet upgraded shares of BIO-TECHNE Corp from a “c+” rating to a “b” rating in a research note on Tuesday, May 2nd.
In other news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $111.37, for a total value of $556,850.00. Following the completion of the sale, the director now owns 12,473 shares in the company, valued at approximately $1,389,118.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 5,300 shares of company stock valued at $591,328. Company insiders own 2.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Israel Discount Bank of New York purchased a new stake in BIO-TECHNE Corp during the first quarter valued at about $105,000. Flinton Capital Management LLC increased its position in shares of 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. Meadow Creek Investment Management LLC increased its position in shares of 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of BIO-TECHNE Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after buying an additional 163 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of 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 during the period. Hedge funds and other institutional investors own 99.17% of the company’s stock.
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BIO-TECHNE Corp (TECH) traded up 0.03% during midday trading on Tuesday, hitting $119.97. 104,314 shares of the company traded hands. BIO-TECHNE Corp has a 12-month low of $95.68 and a 12-month high of $121.94. The stock’s 50-day moving average is $116.99 and its 200-day moving average is $110.19. The firm has a market capitalization of $4.48 billion, a PE ratio of 58.24 and a beta of 0.79.
BIO-TECHNE Corp (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. The business had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. BIO-TECHNE Corp had a net margin of 18.40% and a return on equity of 12.43%. BIO-TECHNE Corp’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Analysts anticipate that BIO-TECHNE Corp will post $3.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. BIO-TECHNE Corp’s payout ratio is 65.98%.
BIO-TECHNE Corp Company Profile
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.
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