Bio-Techne Corp (NASDAQ:TECH) Receives $71.00 Consensus Price Target from Analysts

Bio-Techne Corp (NASDAQ:TECH) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $70.5714.

A number of brokerages have commented on TECH. Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th. TD Cowen raised their target price on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Argus boosted their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. UBS Group raised their price objective on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 17th.

Bio-Techne Stock Performance

NASDAQ TECH opened at $65.28 on Friday. The company’s fifty day moving average is $60.42 and its two-hundred day moving average is $57.05. Bio-Techne has a 52-week low of $46.01 and a 52-week high of $79.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.22 and a quick ratio of 2.81. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 133.23, a P/E/G ratio of 4.34 and a beta of 1.47.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.41% and a return on equity of 13.59%. The business had revenue of $286.56 million during the quarter, compared to analysts’ expectations of $292.02 million. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Equities research analysts forecast that Bio-Techne will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, November 17th. Bio-Techne’s dividend payout ratio is currently 65.31%.

Institutional Trading of Bio-Techne

Institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC raised its position in shares of Bio-Techne by 9.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 565,601 shares of the biotechnology company’s stock valued at $29,100,000 after acquiring an additional 48,838 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Bio-Techne by 2.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,552,440 shares of the biotechnology company’s stock worth $79,873,000 after purchasing an additional 41,180 shares during the period. Park Avenue Securities LLC bought a new stake in Bio-Techne in the second quarter valued at about $270,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Bio-Techne by 8.0% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 474,320 shares of the biotechnology company’s stock valued at $26,386,000 after buying an additional 35,165 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Bio-Techne by 27.0% in the second quarter. Thrivent Financial for Lutherans now owns 224,006 shares of the biotechnology company’s stock valued at $11,529,000 after buying an additional 47,555 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.