Shares of BIO-TECHNE Corp (NASDAQ:TECH) have earned an average rating of “Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $138.00.
TECH has been the subject of a number of research analyst reports. Zacks Investment Research upgraded BIO-TECHNE from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a report on Wednesday, October 11th. Citigroup restated a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of BIO-TECHNE in a report on Tuesday, October 24th. Deutsche Bank set a $145.00 target price on BIO-TECHNE and gave the company a “buy” rating in a report on Tuesday, October 31st. BidaskClub lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Leerink Swann reiterated a “buy” rating on shares of BIO-TECHNE in a report on Tuesday, December 5th.
In related news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now directly owns 12,712 shares in the company, valued at $1,654,848.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in shares of BIO-TECHNE by 51.1% during the fourth quarter. State of Alaska Department of Revenue now owns 9,399 shares of the biotechnology company’s stock worth $1,216,000 after acquiring an additional 3,180 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of BIO-TECHNE by 4.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 206,510 shares of the biotechnology company’s stock worth $26,754,000 after acquiring an additional 9,326 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of BIO-TECHNE by 83.6% during the fourth quarter. Bank of Montreal Can now owns 16,412 shares of the biotechnology company’s stock worth $2,126,000 after acquiring an additional 7,473 shares in the last quarter. Gofen & Glossberg LLC IL purchased a new stake in shares of BIO-TECHNE during the fourth quarter worth $205,000. Finally, Confluence Investment Management LLC raised its holdings in shares of BIO-TECHNE by 2.3% during the fourth quarter. Confluence Investment Management LLC now owns 31,875 shares of the biotechnology company’s stock worth $4,130,000 after acquiring an additional 727 shares in the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.
Shares of BIO-TECHNE (TECH) opened at $140.02 on Friday. The stock has a market capitalization of $5,269.81, a price-to-earnings ratio of 72.55, a PEG ratio of 3.20 and a beta of 0.75. BIO-TECHNE has a 1-year low of $95.68 and a 1-year high of $141.83. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35.
BIO-TECHNE (NASDAQ:TECH) last released its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. The company had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. BIO-TECHNE had a return on equity of 14.11% and a net margin of 12.54%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. sell-side analysts expect that BIO-TECHNE will post 3.77 EPS for the current fiscal year.
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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.
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