Bio-Techne (NASDAQ:TECH) Given New $76.00 Price Target at Wells Fargo & Company

Bio-Techne (NASDAQ:TECH) had its price target hoisted by investment analysts at Wells Fargo & Company from $70.00 to $76.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.86% from the company’s current price.

Other research analysts also recently issued reports about the company. Robert W. Baird set a $70.00 target price on Bio-Techne in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on Bio-Techne and gave the company a “buy” rating in a report on Friday, December 12th. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th. Evercore ISI lifted their target price on shares of Bio-Techne from $62.00 to $68.00 and gave the company an “in-line” rating in a report on Thursday. Finally, Argus boosted their price objective on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.77.

Bio-Techne Stock Up 1.4%

NASDAQ TECH traded up $0.89 during trading on Friday, reaching $66.75. 450,028 shares of the company’s stock traded hands, compared to its average volume of 2,498,223. The company’s 50 day simple moving average is $63.25 and its two-hundred day simple moving average is $59.25. Bio-Techne has a 12-month low of $46.01 and a 12-month high of $75.69. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 130.91, a price-to-earnings-growth ratio of 4.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 2.81.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The company had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Bio-Techne’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Bio-Techne will post 1.67 EPS for the current fiscal year.

Institutional Trading of Bio-Techne

Several hedge funds and other institutional investors have recently made changes to their positions in TECH. Segall Bryant & Hamill LLC lifted its position in shares of Bio-Techne by 9.5% during the second quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock worth $29,100,000 after purchasing an additional 48,838 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in Bio-Techne by 8.0% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after buying an additional 35,165 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Bio-Techne by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock valued at $79,873,000 after buying an additional 41,180 shares during the last quarter. 4D Advisors LLC purchased a new position in Bio-Techne in the second quarter valued at about $2,058,000. Finally, Thrivent Financial for Lutherans grew its stake in Bio-Techne by 27.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock valued at $11,529,000 after purchasing an additional 47,555 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.