Shares of BIO-TECHNE Corp (NASDAQ:TECH) have been given an average rating of “Hold” by the ten analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $185.71.
A number of brokerages recently issued reports on TECH. Zacks Investment Research raised BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Argus raised their price target on BIO-TECHNE from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Craig Hallum lowered BIO-TECHNE from a “buy” rating to a “hold” rating and decreased their target price for the company from $215.00 to $154.00 in a research report on Wednesday, October 31st. Finally, Goldman Sachs Group started coverage on BIO-TECHNE in a research report on Wednesday, October 17th. They set a “neutral” rating and a $190.00 target price for the company.
Shares of TECH stock traded up $4.08 on Friday, reaching $157.77. 303,326 shares of the company’s stock were exchanged, compared to its average volume of 321,041. BIO-TECHNE has a 52 week low of $128.06 and a 52 week high of $206.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.50 and a current ratio of 4.59. The firm has a market capitalization of $5.63 billion, a P/E ratio of 38.76, a P/E/G ratio of 2.62 and a beta of 1.05.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The firm had revenue of $163.00 million during the quarter, compared to analyst estimates of $162.34 million. During the same period last year, the company earned $0.90 EPS. BIO-TECHNE’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that BIO-TECHNE will post 3.79 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama raised its position in BIO-TECHNE by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 48,966 shares of the biotechnology company’s stock valued at $7,086,000 after purchasing an additional 206 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of BIO-TECHNE by 9.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,604 shares of the biotechnology company’s stock worth $533,000 after acquiring an additional 299 shares in the last quarter. Opus Point Partners Management LLC raised its position in shares of BIO-TECHNE by 17.6% in the 3rd quarter. Opus Point Partners Management LLC now owns 2,242 shares of the biotechnology company’s stock worth $458,000 after acquiring an additional 335 shares in the last quarter. Blair William & Co. IL raised its position in shares of BIO-TECHNE by 0.8% in the 3rd quarter. Blair William & Co. IL now owns 46,968 shares of the biotechnology company’s stock worth $9,587,000 after acquiring an additional 350 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of BIO-TECHNE by 220.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 489 shares in the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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