Bio-Techne (NASDAQ:TECH) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday, March 16th.
TECH has been the subject of a number of other reports. Zacks Investment Research raised Bio-Techne from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a report on Saturday, January 20th. Leerink Swann reiterated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, December 5th. Robert W. Baird reiterated a “buy” rating and issued a $154.00 price objective on shares of Bio-Techne in a research note on Thursday, January 18th. Deutsche Bank set a $163.00 price target on Bio-Techne and gave the stock a “buy” rating in a research note on Thursday, March 1st. Finally, Craig Hallum restated a “buy” rating and set a $160.00 price target (up previously from $140.00) on shares of Bio-Techne in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $148.60.
Shares of NASDAQ TECH traded down $2.88 during trading on Friday, hitting $145.33. 146,048 shares of the company were exchanged, compared to its average volume of 161,672. The firm has a market cap of $5,554.02, a PE ratio of 40.72, a P/E/G ratio of 2.84 and a beta of 0.70. Bio-Techne has a 12-month low of $98.35 and a 12-month high of $151.89. The company has a quick ratio of 2.49, a current ratio of 3.10 and a debt-to-equity ratio of 0.36.
Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. Bio-Techne had a net margin of 19.17% and a return on equity of 14.39%. The firm had revenue of $154.15 million for the quarter, compared to analyst estimates of $145.93 million. During the same period in the previous year, the firm earned $0.81 EPS. Bio-Techne’s revenue was up 16.9% on a year-over-year basis. research analysts expect that Bio-Techne will post 4.01 EPS for the current year.
In related news, Director Charles A. Dinarello sold 5,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total transaction of $680,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECH. Financial Gravity Companies Inc. purchased a new position in Bio-Techne during the fourth quarter worth about $118,000. Advisory Services Network LLC raised its holdings in shares of Bio-Techne by 1,423.3% in the 4th quarter. Advisory Services Network LLC now owns 1,112 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,039 shares during the period. Advisor Group Inc. raised its holdings in shares of Bio-Techne by 64.5% in the 4th quarter. Advisor Group Inc. now owns 1,288 shares of the biotechnology company’s stock worth $167,000 after purchasing an additional 505 shares during the period. Zions Bancorporation purchased a new position in shares of Bio-Techne in the 3rd quarter worth about $178,000. Finally, Gofen & Glossberg LLC IL purchased a new position in shares of Bio-Techne in the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 97.12% of the company’s stock.
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Bio-Techne Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.
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