BidaskClub downgraded shares of Bio-Techne (NASDAQ:TECH) from a buy rating to a hold rating in a report published on Tuesday morning.

Other research analysts have also recently issued research reports about the company. Deutsche Bank boosted their price target on Bio-Techne 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 Bio-Techne from a hold rating to a buy rating and set a $143.00 price target on the stock in a research note on Saturday, November 4th. Finally, Citigroup reiterated a buy rating and issued a $115.00 price target (down previously from $125.00) on shares of Bio-Techne in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Bio-Techne currently has a consensus rating of Buy and a consensus price target of $134.33.

Bio-Techne (NASDAQ:TECH) opened at $128.76 on Tuesday. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35. Bio-Techne has a one year low of $95.68 and a one year high of $136.39. The company has a market capitalization of $4,822.13, a PE ratio of 37.10, a P/E/G ratio of 3.21 and a beta of 0.75.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Bio-Techne had a return on equity of 14.11% and a net margin of 12.54%. The business had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. analysts forecast that Bio-Techne will post 3.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 9th. Bio-Techne’s dividend payout ratio is currently 66.32%.

In related news, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the sale, the director now directly owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.40% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in TECH. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Bio-Techne by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 163 shares during the last quarter. Zions Bancorporation bought a new stake in Bio-Techne in the third quarter valued at about $178,000. Flinton Capital Management LLC increased its holdings in Bio-Techne by 84.8% in the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 896 shares during the last quarter. Turner Investments LLC bought a new stake in Bio-Techne in the third quarter valued at about $242,000. Finally, Koch Industries Inc. bought a new stake in Bio-Techne in the second quarter valued at about $286,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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Bio-Techne 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 (NASDAQ:TECH)

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