Bio-Techne Corp (NASDAQ:TECH) Given Average Recommendation of “Moderate Buy” by Brokerages

Bio-Techne Corp (NASDAQ:TECHGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $65.1667.

A number of equities analysts recently commented on the stock. Evercore set a $50.00 target price on shares of Bio-Techne in a research report on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a report on Thursday, May 7th. Robert W. Baird set a $49.00 target price on Bio-Techne in a research note on Thursday, May 7th. Finally, Wells Fargo & Company reduced their price target on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th.

Read Our Latest Research Report on Bio-Techne

Institutional Investors Weigh In On Bio-Techne

A number of large investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of Bio-Techne by 15.3% during the fourth quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after purchasing an additional 1,107,536 shares during the period. State Street Corp grew its position in shares of Bio-Techne by 1.0% in the 4th quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock worth $341,806,000 after buying an additional 58,639 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Bio-Techne by 12.1% in the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after buying an additional 618,916 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in Bio-Techne by 23.1% in the first quarter. Maverick Capital Ltd. now owns 4,739,721 shares of the biotechnology company’s stock valued at $247,698,000 after acquiring an additional 888,798 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Bio-Techne by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company’s stock valued at $239,663,000 after buying an additional 725,050 shares during the period. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 3.3%

Shares of TECH opened at $54.41 on Wednesday. Bio-Techne has a 1 year low of $43.19 and a 1 year high of $72.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The stock has a 50 day simple moving average of $52.08 and a two-hundred day simple moving average of $57.51. The firm has a market cap of $8.52 billion, a P/E ratio of 78.86, a P/E/G ratio of 5.03 and a beta of 1.37.

Bio-Techne (NASDAQ:TECHGet Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. During the same period last year, the business posted $0.56 earnings per share. The company’s revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s payout ratio is presently 46.38%.

About Bio-Techne

(Get Free Report)

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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Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

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