Bio-Techne Co. (NASDAQ:TECH) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Bio-Techne Co. (NASDAQ:TECHGet Rating) have been given an average recommendation of “Buy” by the six ratings firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $537.40.

A number of equities analysts have recently weighed in on TECH shares. Zacks Investment Research raised shares of Bio-Techne from a “hold” rating to a “buy” rating and set a $484.00 price target on the stock in a research report on Wednesday, April 6th. SVB Leerink raised their price objective on shares of Bio-Techne from $530.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Finally, StockNews.com assumed coverage on shares of Bio-Techne in a report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of NASDAQ:TECH opened at $412.06 on Tuesday. The company has a 50 day moving average price of $421.27 and a two-hundred day moving average price of $449.31. The company has a market capitalization of $16.19 billion, a PE ratio of 80.48, a PEG ratio of 2.36 and a beta of 1.21. Bio-Techne has a 52 week low of $347.88 and a 52 week high of $543.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.03 and a current ratio of 3.81.

Bio-Techne (NASDAQ:TECHGet Rating) last announced its quarterly earnings results on Tuesday, February 1st. The biotechnology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.01. The company had revenue of $269.30 million for the quarter, compared to analysts’ expectations of $266.57 million. Bio-Techne had a net margin of 20.45% and a return on equity of 16.35%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. On average, sell-side analysts forecast that Bio-Techne will post 6.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $1.28 annualized dividend and a yield of 0.31%. Bio-Techne’s payout ratio is currently 25.00%.

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Bio-Techne by 4.8% during the 4th quarter. State Street Corp now owns 1,608,213 shares of the biotechnology company’s stock worth $831,993,000 after purchasing an additional 73,760 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Bio-Techne by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 762,953 shares of the biotechnology company’s stock worth $393,692,000 after purchasing an additional 30,699 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Bio-Techne by 151.9% during the 4th quarter. Marshall Wace LLP now owns 580,835 shares of the biotechnology company’s stock worth $300,491,000 after purchasing an additional 350,215 shares during the last quarter. Invesco Ltd. increased its stake in shares of Bio-Techne by 8.2% during the 4th quarter. Invesco Ltd. now owns 489,904 shares of the biotechnology company’s stock worth $253,447,000 after purchasing an additional 37,150 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Bio-Techne by 8.1% during the 4th quarter. Champlain Investment Partners LLC now owns 423,950 shares of the biotechnology company’s stock worth $219,326,000 after purchasing an additional 31,658 shares during the last quarter. Institutional investors own 92.84% of the company’s stock.

About Bio-Techne (Get Rating)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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