Analysts Set Bio-Techne Co. (NASDAQ:TECH) Price Target at $83.90

Bio-Techne Co. (NASDAQ:TECH) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $83.90.

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Stephens lowered their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Royal Bank of Canada lowered their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Scotiabank assumed coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Finally, Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Friday, February 2nd.

Insider Buying and Selling

In related news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently modified their holdings of TECH. Fifth Third Bancorp grew its position in Bio-Techne by 15.0% during the 1st quarter. Fifth Third Bancorp now owns 6,792 shares of the biotechnology company’s stock worth $478,000 after acquiring an additional 884 shares during the last quarter. Raymond James & Associates grew its position in Bio-Techne by 12.0% during the 1st quarter. Raymond James & Associates now owns 334,187 shares of the biotechnology company’s stock worth $23,523,000 after acquiring an additional 35,698 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in Bio-Techne by 5.9% during the 1st quarter. IFM Investors Pty Ltd now owns 29,617 shares of the biotechnology company’s stock worth $2,085,000 after buying an additional 1,651 shares in the last quarter. Berry Wealth Group LP acquired a new position in Bio-Techne during the 1st quarter worth $278,000. Finally, Azzad Asset Management Inc. ADV lifted its holdings in Bio-Techne by 2.3% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 44,570 shares of the biotechnology company’s stock worth $3,137,000 after buying an additional 1,023 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Stock Up 1.4 %

Shares of NASDAQ:TECH opened at $63.69 on Friday. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23. Bio-Techne has a 52-week low of $51.79 and a 52-week high of $89.91. The stock’s fifty day simple moving average is $70.35 and its 200-day simple moving average is $68.61. The company has a market capitalization of $10.01 billion, a P/E ratio of 46.17, a P/E/G ratio of 7.73 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $272.60 million during the quarter, compared to analyst estimates of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, equities research analysts forecast that Bio-Techne will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were given a dividend of $0.08 per share. The ex-dividend date was Friday, February 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. Bio-Techne’s dividend payout ratio is presently 23.19%.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.