Bio-Techne Corp (NASDAQ:TECH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Bio-Techne Corp (NASDAQ:TECH) have been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $72.7692.

Several research analysts have recently weighed in on the company. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Evercore increased their price objective on Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Wells Fargo & Company increased their price objective on Bio-Techne from $70.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Benchmark reissued a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd.

Institutional Trading of Bio-Techne

Institutional investors have recently added to or reduced their stakes in the stock. Caprock Group LLC purchased a new stake in Bio-Techne during the 3rd quarter worth about $1,710,000. Madison Asset Management LLC purchased a new stake in shares of Bio-Techne in the 3rd quarter valued at about $41,425,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of 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 acquiring an additional 35,165 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Bio-Techne by 27.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock valued at $11,529,000 after acquiring an additional 47,555 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Bio-Techne by 20.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,015,189 shares of the biotechnology company’s stock valued at $56,475,000 after acquiring an additional 169,666 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 3.6%

TECH stock opened at $57.53 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 112.81, a PEG ratio of 3.65 and a beta of 1.49. Bio-Techne has a fifty-two week low of $46.01 and a fifty-two week high of $72.16. The stock has a fifty day moving average of $56.32 and a 200-day moving average of $59.94.

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

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Monday, February 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. Bio-Techne’s dividend payout ratio is 62.75%.

About Bio-Techne

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.