Bio-Techne Co. (NASDAQ:TECH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $81.78.

A number of brokerages recently issued reports on TECH. Benchmark restated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada cut their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Scotiabank lifted their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st.

Bio-Techne Stock Up 1.1 %

TECH opened at $75.89 on Friday. The company has a market cap of $12.06 billion, a P/E ratio of 80.73, a P/E/G ratio of 5.55 and a beta of 1.27. The business’s 50-day moving average price is $73.52 and its 200-day moving average price is $74.87. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne has a 12 month low of $61.16 and a 12 month high of $85.57.

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

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.42%. Bio-Techne’s dividend payout ratio is 34.04%.

Institutional Trading of Bio-Techne

Several institutional investors have recently added to or reduced their stakes in TECH. Empirical Finance LLC boosted its stake in shares of Bio-Techne by 4.1% in the 3rd quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock worth $326,000 after buying an additional 160 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Bio-Techne by 1.5% in the 3rd quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company’s stock worth $1,057,000 after buying an additional 198 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 200 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after buying an additional 205 shares during the last quarter. Finally, Mather Group LLC. lifted its position in 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 purchasing an additional 208 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

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.