Deutsche Bank Aktiengesellschaft Cuts Bio-Techne (NASDAQ:TECH) Price Target to $82.00

Bio-Techne (NASDAQ:TECH) had its price objective lowered by investment analysts at Deutsche Bank Aktiengesellschaft from $85.00 to $82.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 32.00% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Stephens cut their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Royal Bank of Canada cut their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Friday, February 2nd. Finally, Scotiabank began coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.90.

Bio-Techne Trading Down 0.1 %

Shares of Bio-Techne stock opened at $62.12 on Thursday. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $89.91. The firm has a market cap of $9.76 billion, a PE ratio of 45.01, a P/E/G ratio of 7.09 and a beta of 1.22. The stock has a fifty day moving average price of $70.50 and a 200-day moving average price of $68.62. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $272.60 million for the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Equities research analysts anticipate that Bio-Techne will post 1.53 EPS for the current year.

Insider Activity

In related news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.45% of the company’s stock.

Institutional Trading of Bio-Techne

Hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in Bio-Techne in the 1st quarter worth approximately $56,000. Harbour Investments Inc. lifted its position in Bio-Techne by 305.0% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in Bio-Techne in the fourth quarter valued at approximately $29,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bio-Techne in the third quarter valued at approximately $27,000. Finally, CVA Family Office LLC bought a new stake in Bio-Techne in the fourth quarter valued at approximately $31,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.