Bio-Techne Corp (NASDAQ:TECH) Receives $71.00 Consensus Target Price from Analysts

Shares of Bio-Techne Corp (NASDAQ:TECH) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $70.5714.

Several analysts recently commented on TECH shares. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Argus upped their price target on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Wells Fargo & Company lifted their price objective on Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. TD Cowen boosted their target price on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th.

Bio-Techne Trading Up 1.7%

NASDAQ TECH opened at $65.70 on Friday. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $10.24 billion, a P/E ratio of 134.08, a P/E/G ratio of 4.53 and a beta of 1.47. Bio-Techne has a 52-week low of $46.01 and a 52-week high of $79.28. The firm has a 50-day moving average price of $60.62 and a 200 day moving average price of $57.32.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The company had revenue of $286.56 million for the quarter, compared to analysts’ expectations of $292.02 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts expect that Bio-Techne will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were given a dividend of $0.08 per share. The ex-dividend date was Monday, November 17th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Bio-Techne’s payout ratio is presently 65.31%.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in Bio-Techne by 1,275.2% during the fourth quarter. SG Americas Securities LLC now owns 136,638 shares of the biotechnology company’s stock worth $8,036,000 after buying an additional 126,702 shares in the last quarter. Diversified Trust Co. boosted its stake in shares of Bio-Techne by 18.7% during the fourth quarter. Diversified Trust Co. now owns 12,710 shares of the biotechnology company’s stock valued at $747,000 after acquiring an additional 2,000 shares during the last quarter. Maridea Wealth Management LLC increased its position in Bio-Techne by 35.1% during the 4th quarter. Maridea Wealth Management LLC now owns 23,558 shares of the biotechnology company’s stock worth $1,385,000 after purchasing an additional 6,117 shares in the last quarter. Covea Finance acquired a new position in Bio-Techne in the 4th quarter valued at about $2,252,000. Finally, Avior Wealth Management LLC purchased a new position in Bio-Techne in the 4th quarter valued at about $334,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.