Analysts Set Bio-Techne Corp (TECH) Target Price at $126.33
Shares of Bio-Techne Corp (NASDAQ:TECH) have received an average rating of “Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $128.75.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a research note on Wednesday, October 11th. Deutsche Bank AG set a $132.00 price target on shares of Bio-Techne Corp and gave the company a “buy” rating in a research report on Wednesday, August 30th. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating on the stock.
In related news, Director Karen A. Holbrook sold 1,059 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the sale, the director now owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,359 shares of company stock worth $164,632 in the last ninety days. 3.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Bio-Techne Corp by 1.7% during the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock worth $418,485,000 after acquiring an additional 61,138 shares during the period. Vanguard Group Inc. increased its holdings in Bio-Techne Corp by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock worth $357,489,000 after acquiring an additional 36,768 shares during the period. Atlanta Capital Management Co. L L C increased its holdings in Bio-Techne Corp by 0.7% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock worth $230,405,000 after acquiring an additional 14,291 shares during the period. Janus Henderson Group PLC increased its holdings in Bio-Techne Corp by 334.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock worth $139,603,000 after acquiring an additional 914,554 shares during the period. Finally, State Street Corp increased its holdings in Bio-Techne Corp by 0.5% during the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock worth $116,891,000 after acquiring an additional 5,078 shares during the period. 98.40% of the stock is currently owned by institutional investors and hedge funds.
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Bio-Techne Corp (TECH) traded up 0.73% on Wednesday, reaching $122.54. 122,355 shares of the company’s stock traded hands. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 60.36 and a beta of 0.76. The company’s 50 day moving average is $121.82 and its 200-day moving average is $114.44. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $125.40.
Bio-Techne Corp (NASDAQ:TECH) last released its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. The firm had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Equities analysts expect that Bio-Techne Corp will post $3.99 EPS for the current year.
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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