BIO-TECHNE (NASDAQ:TECH) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Monday, The Fly reports.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. BidaskClub cut shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Goldman Sachs Group set a $165.00 price target on shares of BIO-TECHNE and gave the stock a “hold” rating in a research note on Friday, November 30th. Finally, Craig Hallum cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating and dropped their price target for the stock from $215.00 to $154.00 in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $181.00.
Shares of NASDAQ:TECH opened at $157.77 on Monday. BIO-TECHNE has a 52 week low of $128.06 and a 52 week high of $206.04. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.59 and a quick ratio of 3.50.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. BIO-TECHNE had a net margin of 19.19% and a return on equity of 14.09%. The business had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $162.34 million. During the same period last year, the company posted $0.90 EPS. The business’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts expect that BIO-TECHNE will post 3.79 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Stevens Capital Management LP purchased a new position in shares of BIO-TECHNE during the 3rd quarter worth about $2,883,000. BB&T Corp bought a new stake in BIO-TECHNE during the 3rd quarter valued at about $234,000. Macquarie Group Ltd. lifted its holdings in BIO-TECHNE by 2.5% during the 3rd quarter. Macquarie Group Ltd. now owns 179,674 shares of the biotechnology company’s stock valued at $36,673,000 after buying an additional 4,398 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in BIO-TECHNE by 8.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 47,861 shares of the biotechnology company’s stock valued at $7,081,000 after buying an additional 3,744 shares in the last quarter. Finally, Chicago Capital LLC bought a new stake in BIO-TECHNE during the 3rd quarter valued at about $204,000. 93.59% of the stock is owned by hedge funds and other institutional investors.
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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