Bio-Techne (NASDAQ:TECH) Rating Lowered to Strong Sell at Zacks Research

Bio-Techne (NASDAQ:TECH) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Citigroup reduced their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. Evercore set a $50.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a report on Thursday, May 7th. Finally, TD Cowen restated a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.17.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $54.41 on Monday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne has a twelve month low of $43.19 and a twelve month high of $72.16. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 78.86, a P/E/G ratio of 5.03 and a beta of 1.37. The company’s fifty day moving average is $52.08 and its 200 day moving average is $57.51.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that Bio-Techne will post 1.67 EPS for the current year.

Hedge Funds Weigh In On Bio-Techne

Institutional investors have recently made changes to their positions in the stock. Danske Bank A S acquired a new position in shares of Bio-Techne during the fourth quarter valued at about $29,000. eCIO Inc. acquired a new position in shares of Bio-Techne during the fourth quarter valued at about $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne during the third quarter valued at about $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne during the third quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 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.