Bio-Techne (NASDAQ:TECH) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Bio-Techne (NASDAQ:TECH) from a hold rating to a buy rating in a research report report published on Tuesday.

Other equities analysts have also issued research reports about the stock. Benchmark restated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Scotiabank increased their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada reduced their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, Robert W. Baird boosted their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.78.

Bio-Techne Price Performance

NASDAQ:TECH opened at $74.41 on Tuesday. The business’s 50-day simple moving average is $74.21 and its two-hundred day simple moving average is $75.39. Bio-Techne has a 52 week low of $56.45 and a 52 week high of $85.57. The stock has a market cap of $11.82 billion, a PE ratio of 79.16, a P/E/G ratio of 5.54 and a beta of 1.28. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Bio-Techne will post 1.68 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, November 8th. Bio-Techne’s payout ratio is 34.04%.

Institutional Trading of Bio-Techne

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Empirical Finance LLC increased its position in Bio-Techne by 4.1% during the third quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock valued at $326,000 after acquiring an additional 160 shares during the last quarter. First City Capital Management Inc. grew its holdings in Bio-Techne by 6.2% during the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock valued at $224,000 after purchasing an additional 185 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Bio-Techne by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,333 shares of the biotechnology company’s stock worth $426,000 after purchasing an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Bio-Techne by 12.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 205 shares during the last quarter. Finally, Mather Group LLC. boosted its position in shares of Bio-Techne by 51.5% during the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.