Deutsche Bank Aktiengesellschaft Trims Bio-Techne (NASDAQ:TECH) Target Price to $82.00

Bio-Techne (NASDAQ:TECH) had its price objective cut by Deutsche Bank Aktiengesellschaft from $85.00 to $82.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research analysts also recently weighed in on TECH. Stifel Nicolaus downgraded shares of Bio-Techne from a buy rating to a hold rating and set a $65.00 target price on the stock. in a research report on Friday, February 2nd. Scotiabank assumed coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They issued a sector outperform rating and a $80.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Bio-Techne from $85.00 to $75.00 and set a sector perform rating on the stock in a research report on Friday, February 2nd. Finally, Stephens lowered their price objective on shares of Bio-Techne from $92.00 to $87.00 and set an overweight rating on the stock in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne presently has a consensus rating of Moderate Buy and a consensus target price of $83.90.

Bio-Techne Stock Down 0.8 %

NASDAQ TECH opened at $62.21 on Thursday. The company’s 50 day simple moving average is $70.61 and its 200 day simple moving average is $68.65. The company has a market capitalization of $9.78 billion, a P/E ratio of 45.08, a PEG ratio of 7.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. Bio-Techne has a 12 month low of $51.79 and a 12 month high of $89.91.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $272.60 million during the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. Equities research analysts expect that Bio-Techne will post 1.53 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.45% of the company’s stock.

Institutional Trading of Bio-Techne

Institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its stake in shares of Bio-Techne by 31.2% in the first quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock worth $680,000 after buying an additional 374 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Bio-Techne by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock worth $2,276,000 after buying an additional 325 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of Bio-Techne by 8.0% in the first quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock worth $635,000 after buying an additional 108 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Bio-Techne by 13.3% in the first quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock worth $848,000 after buying an additional 230 shares during the last quarter. Finally, Aviva PLC lifted its stake in shares of Bio-Techne by 9.9% in the first quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock worth $7,491,000 after buying an additional 1,552 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.