Bio-Techne Co. (NASDAQ:TECH) Receives $82.00 Average PT from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $82.00.

Several research analysts have recently issued reports on TECH shares. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird upped their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Scotiabank lifted their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $72.03 on Wednesday. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 76.63, a PEG ratio of 5.52 and a beta of 1.27. The business has a 50 day moving average price of $73.50 and a 200 day moving average price of $74.21. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne has a twelve month low of $61.16 and a twelve month high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Bio-Techne’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. Research analysts predict that Bio-Techne will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Bio-Techne’s payout ratio is presently 34.04%.

Institutional Trading of Bio-Techne

Several institutional investors have recently bought and sold shares of TECH. Itau Unibanco Holding S.A. acquired a new position in Bio-Techne during the second quarter worth $25,000. Brown Brothers Harriman & Co. increased its position in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne during the 2nd quarter valued at about $31,000. Brooklyn Investment Group acquired a new position in Bio-Techne in the third quarter valued at about $39,000. Finally, Quest Partners LLC bought a new stake in Bio-Techne during the third quarter worth about $43,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

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.