Bio-Techne (NASDAQ:TECH) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Bio-Techne (NASDAQ:TECH) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other research firms have also recently commented on TECH. Deutsche Bank Aktiengesellschaft cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research note on Friday, June 26th. Weiss Ratings raised shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Leerink Partners set a $73.00 target price on Bio-Techne in a research report on Thursday, June 25th. Royal Bank Of Canada cut Bio-Techne from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $62.00 to $73.00 in a research note on Thursday, July 9th. Finally, Robert W. Baird raised their price target on Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Bio-Techne presently has a consensus rating of “Hold” and a consensus target price of $68.92.

Bio-Techne Stock Up 0.1%

Shares of TECH opened at $72.38 on Tuesday. The company has a market cap of $11.35 billion, a PE ratio of 62.94, a P/E/G ratio of 8.62 and a beta of 1.28. The business has a fifty day moving average of $70.28 and a 200 day moving average of $59.63. Bio-Techne has a 52-week low of $43.19 and a 52-week high of $72.62. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company had revenue of $321.19 million during the quarter, compared to analyst estimates of $314.63 million. During the same period in the previous year, the firm earned $0.53 earnings per share. Bio-Techne’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Bio-Techne will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.65 dividend. The ex-dividend date is Monday, August 24th. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s payout ratio is currently 27.83%.

Institutional Trading of Bio-Techne

Institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new position in Bio-Techne in the fourth quarter worth approximately $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne in the 3rd quarter worth $32,000. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne in the 3rd quarter worth $33,000. Avalon Trust Co bought a new position in shares of Bio-Techne during the 2nd quarter worth $42,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Bio-Techne during the 4th quarter worth $39,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.