Bio-Techne (NASDAQ:TECH) Given New $70.00 Price Target at UBS Group

Bio-Techne (NASDAQ:TECH) had its price objective upped by equities research analysts at UBS Group from $65.00 to $70.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. UBS Group’s price target would indicate a potential upside of 21.29% from the stock’s previous close.

Several other analysts have also commented on the company. Evercore ISI raised their target price on Bio-Techne from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $70.00 in a research note on Thursday, August 21st. Royal Bank Of Canada upgraded shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Bio-Techne in a report on Wednesday, October 8th. Finally, Stephens raised shares of Bio-Techne to a “strong-buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Bio-Techne Stock Performance

Shares of TECH stock traded down $2.23 on Thursday, reaching $57.72. The stock had a trading volume of 1,107,119 shares, compared to its average volume of 2,116,382. Bio-Techne has a 1 year low of $46.01 and a 1 year high of $79.28. The company has a 50 day simple moving average of $57.50 and a 200 day simple moving average of $53.66. The stock has a market cap of $8.99 billion, a P/E ratio of 125.44, a price-to-earnings-growth ratio of 3.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business had revenue of $286.56 million during the quarter, compared to analyst estimates of $292.02 million. During the same quarter last year, the business earned $0.42 earnings per share. Bio-Techne’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities research analysts expect that Bio-Techne will post 1.67 EPS for the current year.

Institutional Trading of Bio-Techne

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 237 shares during the period. AlphaQuest LLC acquired a new position in Bio-Techne in the first quarter worth $34,000. Allworth Financial LP lifted its stake in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 248 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at approximately $37,000. Finally, Federated Hermes Inc. bought a new stake in Bio-Techne during the 3rd quarter worth approximately $37,000. Institutional investors 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.