Bio-Techne (NASDAQ:TECH) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Bio-Techne (NASDAQ:TECH – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a buy rating on the biotechnology company’s stock.

A number of other research firms have also weighed in on TECH. KeyCorp lowered their price objective on shares of Bio-Techne from $125.00 to $115.00 and set an overweight rating for the company in a research note on Friday, February 3rd. Robert W. Baird lowered their price objective on shares of Bio-Techne from $111.50 to $99.00 in a research note on Friday, February 3rd. SVB Leerink lowered their price objective on shares of Bio-Techne from $125.00 to $110.00 and set an outperform rating for the company in a research note on Friday, February 3rd. Royal Bank of Canada lowered their price objective on shares of Bio-Techne from $89.00 to $88.00 and set a sector perform rating for the company in a research note on Monday, February 6th. Finally, Benchmark reaffirmed a buy rating and issued a $120.00 price objective on shares of Bio-Techne in a research note on Friday, February 3rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $104.36.

Bio-Techne Stock Down 1.6 %

Shares of TECH opened at $72.31 on Thursday. The firm has a market capitalization of $11.37 billion, a P/E ratio of 44.91, a P/E/G ratio of 2.33 and a beta of 1.24. Bio-Techne has a 12-month low of $68.00 and a 12-month high of $113.81. The company has a current ratio of 4.40, a quick ratio of 3.15 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $77.53 and a 200-day moving average price of $80.46.

Bio-Techne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Monday, February 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.02. Bio-Techne’s dividend payout ratio is 19.88%.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds have recently modified their holdings of TECH. Harbour Investments Inc. increased its holdings in shares of Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 244 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Bio-Techne by 488.2% during the third quarter. Cullen Frost Bankers Inc. now owns 100 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 83 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of Bio-Techne during the fourth quarter valued at about $29,000. BerganKDV Wealth Management LLC acquired a new position in shares of Bio-Techne during the third quarter valued at about $38,000. Finally, Ellevest Inc. increased its holdings in shares of Bio-Techne by 176.9% during the fourth quarter. Ellevest Inc. now owns 479 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 306 shares in the last quarter. Institutional investors and hedge funds own 23.92% of the company’s stock.

Bio-Techne Company Profile

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Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.