Bio-Techne (TECH) Downgraded to Hold at BidaskClub
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.
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.
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