BIO-TECHNE (NASDAQ:TECH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 equities analysts also recently issued research reports about the company. Citigroup boosted their price target on BIO-TECHNE from $160.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Craig Hallum boosted their price target on BIO-TECHNE from $160.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. BidaskClub downgraded BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Argus boosted their price objective on BIO-TECHNE from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, Goldman Sachs Group set a $165.00 price objective on BIO-TECHNE and gave the stock a “hold” rating in a report on Friday, November 30th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. BIO-TECHNE currently has an average rating of “Buy” and an average target price of $181.00.
Shares of NASDAQ TECH opened at $160.49 on Wednesday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 39.43, a price-to-earnings-growth ratio of 2.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.50 and a current ratio of 4.59. BIO-TECHNE has a twelve month low of $125.84 and a twelve month high of $206.04.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $162.34 million. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, analysts anticipate that BIO-TECHNE will post 3.79 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. BB&T Corp bought a new stake in shares of BIO-TECHNE during the third quarter worth approximately $234,000. Sun Life Financial INC bought a new stake in shares of BIO-TECHNE during the second quarter worth approximately $442,000. Fort L.P. bought a new stake in shares of BIO-TECHNE in the second quarter valued at approximately $115,000. Public Employees Retirement System of Ohio boosted its stake in shares of BIO-TECHNE by 8.5% in the second quarter. Public Employees Retirement System of Ohio now owns 47,861 shares of the biotechnology company’s stock valued at $7,081,000 after buying an additional 3,744 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its stake in shares of BIO-TECHNE by 13.6% in the third quarter. Conestoga Capital Advisors LLC now owns 309,282 shares of the biotechnology company’s stock valued at $63,128,000 after buying an additional 36,915 shares during the period. Institutional investors own 93.90% of the company’s stock.
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 in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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