Bio-Techne Co. (NASDAQ:TECH – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $475.00.
TECH has been the subject of a number of recent analyst reports. Stephens dropped their price objective on Bio-Techne from $500.00 to $480.00 and set an “overweight” rating for the company in a report on Friday, August 5th. Robert W. Baird dropped their price target on Bio-Techne from $500.00 to $470.00 in a research note on Friday, August 5th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, September 9th. Credit Suisse Group initiated coverage on Bio-Techne in a research note on Wednesday, August 24th. They issued an “outperform” rating and a $465.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on Bio-Techne from $370.00 to $360.00 and set an “underweight” rating for the company in a report on Tuesday, August 16th.
Insider Activity at Bio-Techne
In related news, Director John L. Higgins sold 1,992 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $377.11, for a total value of $751,203.12. Following the completion of the transaction, the director now directly owns 6,014 shares in the company, valued at $2,267,939.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.
Institutional Inflows and Outflows
Bio-Techne Trading Down 1.0 %
Shares of NASDAQ:TECH opened at $316.37 on Friday. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 47.79, a PEG ratio of 1.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.64 and a current ratio of 3.44. The stock’s 50-day simple moving average is $355.67 and its two-hundred day simple moving average is $376.04. Bio-Techne has a 52-week low of $315.24 and a 52-week high of $543.85.
Bio-Techne (NASDAQ:TECH – Get Rating) last issued its earnings results on Thursday, August 4th. The biotechnology company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.03). The business had revenue of $288.30 million for the quarter, compared to the consensus estimate of $287.04 million. Bio-Techne had a net margin of 24.61% and a return on equity of 16.97%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $1.67 EPS. Analysts expect that Bio-Techne will post 7.73 EPS for the current year.
Bio-Techne Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Investors of record on Monday, August 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.28 annualized dividend and a dividend yield of 0.40%. Bio-Techne’s dividend payout ratio is presently 19.34%.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures 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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