Bio-Techne (NASDAQ:TECH) Downgraded to “Hold” Rating by Stephens

Bio-Techne (NASDAQ:TECH) was downgraded by Stephens from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

A number of other analysts have also weighed in on TECH. William Blair lowered shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of Bio-Techne in a report on Tuesday. Robert W. Baird boosted their price objective on Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank Of Canada set a $62.00 price objective on Bio-Techne and gave the stock an “outperform” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.07.

Bio-Techne Stock Up 0.4%

TECH stock opened at $71.00 on Friday. The firm has a 50-day moving average price of $52.95 and a 200-day moving average price of $57.09. Bio-Techne has a 12 month low of $43.19 and a 12 month high of $72.16. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.12 billion, a P/E ratio of 102.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. As a group, equities research analysts anticipate that Bio-Techne will post 1.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds and other institutional investors have recently bought and sold shares of TECH. Impax Asset Management Group plc acquired a new stake in Bio-Techne during the fourth quarter worth approximately $11,468,000. Hollow Brook Wealth Management LLC lifted its stake in Bio-Techne by 69.7% in the third quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock valued at $9,717,000 after buying an additional 71,739 shares during the period. Border to Coast Pensions Partnership Ltd acquired a new position in Bio-Techne in the fourth quarter valued at approximately $15,023,000. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of Bio-Techne by 7.1% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 559,189 shares of the biotechnology company’s stock worth $31,108,000 after buying an additional 37,200 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Bio-Techne by 53.5% during the 3rd quarter. TD Asset Management Inc now owns 104,507 shares of the biotechnology company’s stock worth $5,814,000 after buying an additional 36,424 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne News Roundup

Here are the key news stories impacting Bio-Techne this week:

• Positive Sentiment: Merck KGaA’s all-cash buyout offer gives Bio-Techne shareholders a clear takeover price and a premium valuation anchor. Merck KGaA, Darmstadt, Germany, Agrees to Acquire Bio-Techne, Strengthening Leadership Position in Fast-Growing Life Sciences Markets
• Positive Sentiment: Analyst actions were mixed but included an upgrade from Evercore to strong-buy and a price-target increase from Baird to $73, reinforcing the view that the shares were moving toward deal value.
• Neutral Sentiment: Unusual call-option activity suggests traders are positioning for further merger-related volatility, but that activity does not change the takeover terms.
• Negative Sentiment: Shareholder-law-firm investigations have begun over whether the Merck deal provides a fair price, which could add some headline risk and scrutiny around the transaction. SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Bio-Techne Corporation (NASDAQ: TECH)

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.