Bio-Techne (NASDAQ:TECH – Get Free Report) was downgraded by equities researchers at Evercore from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
Other analysts have also recently issued research reports about the company. Robert W. Baird increased their target price on Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. TD Cowen downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and upped their price target for the stock from $65.00 to $73.00 in a research report on Monday, June 29th. Wells Fargo & Company decreased their price objective on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, Stephens set a $73.00 target price on shares of Bio-Techne and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.79.
View Our Latest Analysis on TECH
Bio-Techne Price Performance
Bio-Techne (NASDAQ:TECH – Get Free Report) last posted its 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 firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. Equities research analysts expect that Bio-Techne will post 1.65 EPS for the current fiscal year.
Institutional Investors Weigh In On Bio-Techne
Several large investors have recently made changes to their positions in the stock. Danske Bank A S bought a new stake in shares of Bio-Techne during the fourth quarter worth approximately $29,000. eCIO Inc. bought a new stake in Bio-Techne in the 4th quarter valued at $30,000. Measured Wealth Private Client Group LLC acquired a new position in Bio-Techne in the 3rd quarter valued at $32,000. iSAM Funds UK Ltd acquired a new position in Bio-Techne in the 3rd quarter valued at $33,000. Finally, Los Angeles Capital Management LLC bought a new position in Bio-Techne during the 4th quarter worth $39,000. Institutional investors and hedge funds own 98.95% of the company’s stock.
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.
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