Bio-Techne (NASDAQ:TECH) Raised to Hold at Piper Sandler

Bio-Techne (NASDAQ:TECH) was upgraded by equities research analysts at Piper Sandler to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. Evercore set a $50.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target of $65.15.

Bio-Techne Stock Performance

Shares of TECH stock opened at $54.02 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne has a one year low of $43.19 and a one year high of $72.16. The company’s 50-day simple moving average is $52.12 and its 200-day simple moving average is $57.42. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 78.29, a PEG ratio of 5.02 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same period in the previous year, the business posted $0.56 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in shares of Bio-Techne by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 153 shares during the period. Accredited Investors Inc. increased its stake in shares of Bio-Techne by 2.7% in the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $356,000 after purchasing an additional 161 shares during the period. Allworth Financial LP increased its stake in shares of Bio-Techne by 28.4% in the third quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 174 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Bio-Techne by 3.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after purchasing an additional 181 shares during the period. Finally, Angeles Wealth Management LLC increased its stake in shares of Bio-Techne by 3.4% in the third quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds 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.