Analysts Set Bio-Techne Corp (NASDAQ:TECH) Target Price at $72.77

Shares of Bio-Techne Corp (NASDAQ:TECH) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.7692.

A number of brokerages have recently commented on TECH. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the stock a “buy” rating in a research report on Friday, December 12th. Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. Wells Fargo & Company increased their price target on Bio-Techne from $70.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th.

Hedge Funds Weigh In On Bio-Techne

A number of large investors have recently modified their holdings of TECH. Asset Management One Co. Ltd. grew its holdings in Bio-Techne by 2.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock worth $341,000 after buying an additional 153 shares in the last quarter. Accredited Investors Inc. lifted its stake in Bio-Techne by 2.7% during the 4th quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $356,000 after acquiring an additional 161 shares in the last quarter. Oak Thistle LLC lifted its stake in Bio-Techne by 1.9% during the 3rd quarter. Oak Thistle LLC now owns 9,314 shares of the biotechnology company’s stock valued at $518,000 after acquiring an additional 173 shares in the last quarter. Allworth Financial LP boosted its holdings in Bio-Techne by 28.4% during the 3rd quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 174 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Bio-Techne by 3.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after acquiring an additional 181 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Trading Up 0.5%

Shares of TECH stock opened at $57.87 on Monday. Bio-Techne has a twelve month low of $46.01 and a twelve month high of $72.16. The stock’s fifty day simple moving average is $63.09 and its 200 day simple moving average is $59.84. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $9.05 billion, a P/E ratio of 113.47, a P/E/G ratio of 3.82 and a beta of 1.48.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. As a group, sell-side analysts predict that Bio-Techne will post 1.67 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, February 13th. Bio-Techne’s dividend payout ratio is presently 62.75%.

Bio-Techne Company Profile

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.