Bio-Techne Corp (NASDAQ:TECH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, October 24th.
According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “
Other research analysts have also issued research reports about the company. Deutsche Bank AG increased their target price on Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Wells Fargo & Company assumed coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $134.33.
Shares of Bio-Techne Corp (TECH) opened at $124.24 on Tuesday. Bio-Techne Corp has a fifty-two week low of $95.68 and a fifty-two week high of $132.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. The firm has a market capitalization of $4,654.28, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74.
Bio-Techne Corp (NASDAQ:TECH) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.08. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The firm had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. During the same quarter in the prior year, the company earned $0.84 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. sell-side analysts forecast that Bio-Techne Corp will post 3.76 earnings per share for the current year.
WARNING: This story was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The original version of this story can be accessed at https://www.dispatchtribunal.com/2017/11/12/bio-techne-corp-tech-downgraded-by-zacks-investment-research.html.
In other news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the transaction, the director now directly owns 914 shares in the company, valued at approximately $111,261.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the transaction, the director now owns 12,712 shares in the company, valued at $1,654,848.16. The disclosure for this sale can be found here. In the last three months, insiders sold 6,259 shares of company stock valued at $804,102. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECH. BlackRock Inc. lifted its position in Bio-Techne Corp by 14,548.6% during the first quarter. BlackRock Inc. now owns 3,500,436 shares of the biotechnology company’s stock valued at $355,820,000 after purchasing an additional 3,476,540 shares in the last quarter. Janus Henderson Group PLC lifted its position in Bio-Techne Corp by 334.3% during the second quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after purchasing an additional 914,554 shares in the last quarter. American Century Companies Inc. lifted its position in Bio-Techne Corp by 174.8% during the second quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock valued at $85,962,000 after purchasing an additional 465,398 shares in the last quarter. Koch Industries Inc. purchased a new position in Bio-Techne Corp during the second quarter valued at $286,000. Finally, Schroder Investment Management Group lifted its position in Bio-Techne Corp by 222.0% during the second quarter. Schroder Investment Management Group now owns 342,815 shares of the biotechnology company’s stock valued at $40,220,000 after purchasing an additional 236,362 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.
Bio-Techne Corp Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
Get a free copy of the Zacks research report on Bio-Techne Corp (TECH)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bio-Techne Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne Corp and related companies with MarketBeat.com's FREE daily email newsletter.