Bio-Techne (NASDAQ:TECH – Get Free Report) was upgraded by investment analysts at Royal Bank Of Canada to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.
A number of other equities research analysts also recently issued reports on TECH. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Evercore set a $50.00 price target on shares of Bio-Techne in a research note on Thursday, May 7th. Citigroup reduced their price target on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. UBS Group reissued a “buy” rating and issued a $79.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Benchmark reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.92.
View Our Latest Analysis on Bio-Techne
Bio-Techne Price Performance
Bio-Techne (NASDAQ:TECH – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. Bio-Techne’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. As a group, equities research analysts expect that Bio-Techne will post 1.72 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in Bio-Techne during the 4th quarter worth approximately $29,000. eCIO Inc. acquired a new position in Bio-Techne during the 4th quarter worth approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new position in Bio-Techne during the 3rd quarter worth approximately $33,000. Finally, Los Angeles Capital Management LLC acquired a new position in Bio-Techne during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds 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.
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