Bio-Techne (NASDAQ:TECH) Price Target Raised to $90.00

Bio-Techne (NASDAQ:TECH) had its price target upped by KeyCorp from $80.00 to $90.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

TECH has been the topic of several other reports. Robert W. Baird increased their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Scotiabank raised their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.57.

Bio-Techne Trading Down 0.3 %

Bio-Techne stock opened at $75.01 on Thursday. The stock has a 50-day simple moving average of $74.61 and a 200 day simple moving average of $74.37. The stock has a market capitalization of $11.92 billion, a P/E ratio of 79.80, a PEG ratio of 5.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne has a 52 week low of $61.16 and a 52 week high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Analysts expect that Bio-Techne will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 17th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Bio-Techne’s payout ratio is presently 32.32%.

Insider Activity

In related news, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the transaction, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bio-Techne

Several institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group bought a new position in Bio-Techne in the third quarter valued at approximately $39,000. Quest Partners LLC bought a new position in shares of Bio-Techne in the 3rd quarter valued at $43,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after buying an additional 253 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in Bio-Techne by 51.5% in 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 in the last quarter. 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.