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.

Analyst Recommendations for BIO-TECHNE Corp (NASDAQ:TECH)

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