Bio-Techne Co. (NASDAQ:TECH – Get Rating) – Stock analysts at KeyCorp reduced their FY2024 EPS estimates for shares of Bio-Techne in a research note issued to investors on Tuesday, March 7th. KeyCorp analyst P. Knight now forecasts that the biotechnology company will post earnings of $1.98 per share for the year, down from their previous forecast of $2.05. KeyCorp has a “Overweight” rating and a $115.00 price objective on the stock. The consensus estimate for Bio-Techne’s current full-year earnings is $1.69 per share. KeyCorp also issued estimates for Bio-Techne’s FY2025 earnings at $2.43 EPS.
Other equities analysts have also issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Bio-Techne in a research note on Friday, February 3rd. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Thursday, March 2nd. Robert W. Baird cut their price objective on Bio-Techne from $111.50 to $99.00 in a report on Friday, February 3rd. Stephens dropped their target price on Bio-Techne to $105.00 and set an “overweight” rating on the stock in a research report on Monday, December 5th. Finally, Citigroup upgraded Bio-Techne from a “neutral” rating to a “buy” rating and upped their price target for the stock from $81.25 to $100.00 in a research note on Monday, December 12th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.36.
Bio-Techne Trading Down 2.8 %
Bio-Techne Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, February 27th. Shareholders of record on Monday, February 13th were issued a dividend of $0.08 per share. This is a boost from Bio-Techne’s previous quarterly dividend of $0.02. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, February 10th. Bio-Techne’s dividend payout ratio is currently 19.88%.
Hedge Funds Weigh In On Bio-Techne
Hedge funds and other institutional investors have recently modified their holdings of the stock. Select Equity Group L.P. boosted its holdings in shares of Bio-Techne by 382.9% in the 4th quarter. Select Equity Group L.P. now owns 7,153,947 shares of the biotechnology company’s stock valued at $592,919,000 after buying an additional 5,672,587 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Bio-Techne by 286.7% during the 4th quarter. Bamco Inc. NY now owns 5,519,062 shares of the biotechnology company’s stock valued at $457,420,000 after acquiring an additional 4,091,998 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Bio-Techne by 299.2% during the 4th quarter. Neuberger Berman Group LLC now owns 4,134,391 shares of the biotechnology company’s stock valued at $342,658,000 after acquiring an additional 3,098,731 shares during the last quarter. Geode Capital Management LLC lifted its position in Bio-Techne by 314.2% in the fourth quarter. Geode Capital Management LLC now owns 3,675,739 shares of the biotechnology company’s stock valued at $304,155,000 after buying an additional 2,788,348 shares during the last quarter. Finally, Morgan Stanley lifted its position in Bio-Techne by 1,300.4% in the fourth quarter. Morgan Stanley now owns 2,982,630 shares of the biotechnology company’s stock valued at $247,200,000 after buying an additional 2,769,642 shares during the last quarter. Institutional investors own 23.92% of the company’s stock.
Bio-Techne Company Profile
Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.
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