Bio-Techne Corp (NASDAQ:TECH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of Bio-Techne Corp (NASDAQ:TECH – Get Free Report) have earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $70.4167.

A number of research firms recently commented on TECH. UBS Group lowered their price target on shares of Bio-Techne from $95.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Stephens raised shares of Bio-Techne to a “strong-buy” rating and set a $65.00 target price on the stock in a report on Tuesday, July 22nd. Wells Fargo & Company assumed coverage on shares of Bio-Techne in a report on Friday, May 30th. They issued an “overweight” rating and a $59.00 target price on the stock. Wall Street Zen lowered shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Sunday, June 8th. Finally, Royal Bank Of Canada raised shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a report on Wednesday.

Check Out Our Latest Stock Analysis on Bio-Techne

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Bio-Techne by 5.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 4,300 shares of the biotechnology company’s stock valued at $253,000 after purchasing an additional 210 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Bio-Techne by 5.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 4,134 shares of the biotechnology company’s stock worth $213,000 after buying an additional 219 shares during the period. Amalgamated Bank boosted its position in Bio-Techne by 0.7% during the 1st quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company’s stock worth $1,797,000 after buying an additional 222 shares during the period. E Fund Management Co. Ltd. boosted its position in Bio-Techne by 4.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,497 shares of the biotechnology company’s stock worth $283,000 after buying an additional 235 shares during the period. Finally, Allworth Financial LP boosted its position in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after buying an additional 248 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Price Performance

NASDAQ:TECH opened at $54.41 on Monday. Bio-Techne has a 52 week low of $46.01 and a 52 week high of $80.95. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 118.29, a P/E/G ratio of 3.37 and a beta of 1.47. The firm’s 50-day simple moving average is $53.90 and its 200 day simple moving average is $53.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46.

Bio-Techne (NASDAQ:TECH – Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business had revenue of $316.96 million for the quarter, compared to analyst estimates of $315.14 million. During the same period last year, the firm earned $0.49 earnings per share. Bio-Techne’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Bio-Techne will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 69.57%.

Bio-Techne Company Profile

(Get Free Report)

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.

Featured Stories