BIO-TECHNE (NASDAQ:TECH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
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. “
Several other research analysts have also issued reports on the company. ValuEngine raised BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. Citigroup upped their target price on BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Craig Hallum upped their target price on BIO-TECHNE from $160.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Robert W. Baird upped their target price on BIO-TECHNE from $162.00 to $191.00 and gave the company a “positive” rating in a research report on Wednesday, August 8th. Finally, Leerink Swann set a $190.00 target price on BIO-TECHNE and gave the company an “outperform” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $185.57.
Shares of TECH traded up $3.25 during trading hours on Thursday, hitting $204.77. The company had a trading volume of 2,583 shares, compared to its average volume of 198,471. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 50.31, a PEG ratio of 3.42 and a beta of 0.88. The company has a current ratio of 5.01, a quick ratio of 3.93 and a debt-to-equity ratio of 0.31. BIO-TECHNE has a one year low of $119.48 and a one year high of $204.66.
BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.05. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%. The company had revenue of $180.25 million for the quarter, compared to analyst estimates of $176.24 million. equities research analysts forecast that BIO-TECHNE will post 3.93 EPS for the current year.
In other BIO-TECHNE news, Director John L. Higgins sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $187.92, for a total transaction of $1,879,200.00. Following the sale, the director now owns 13,012 shares in the company, valued at approximately $2,445,215.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $176.94, for a total value of $884,700.00. Following the sale, the director now owns 13,212 shares in the company, valued at approximately $2,337,731.28. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Summit Trail Advisors LLC boosted its stake in shares of BIO-TECHNE by 13,323.2% in the first quarter. Summit Trail Advisors LLC now owns 100,137 shares of the biotechnology company’s stock worth $100,000 after buying an additional 99,391 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of BIO-TECHNE in the second quarter worth about $110,000. Bruderman Asset Management LLC purchased a new stake in shares of BIO-TECHNE in the second quarter worth about $113,000. Fort L.P. purchased a new stake in shares of BIO-TECHNE in the second quarter worth about $115,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of BIO-TECHNE in the second quarter worth about $136,000. Institutional investors and hedge funds own 94.32% of the company’s stock.
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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