Bio-Techne (NASDAQ:TECH) Price Target Raised to $81.00

Bio-Techne (NASDAQ:TECH) had its price objective hoisted by Robert W. Baird from $73.00 to $81.00 in a research note published on Thursday, Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Bio-Techne from $85.00 to $75.00 and set a sector perform rating for the company in a report on Friday, February 2nd. Stifel Nicolaus cut 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. Scotiabank assumed coverage on Bio-Techne in a research report on Thursday, February 8th. They set a sector outperform rating and a $80.00 price target on the stock. Stephens decreased their price objective on Bio-Techne from $92.00 to $87.00 and set an overweight rating for the company in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Bio-Techne from $85.00 to $82.00 and set a buy rating for the company in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $80.50.

Bio-Techne Price Performance

Shares of TECH opened at $77.29 on Thursday. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.15 billion, a P/E ratio of 61.34, a price-to-earnings-growth ratio of 9.08 and a beta of 1.23. The stock’s 50-day moving average price is $69.76 and its two-hundred day moving average price is $68.57. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $89.91.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. During the same quarter last year, the firm earned $0.47 EPS. Bio-Techne’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts predict that Bio-Techne will post 1.52 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Bio-Techne’s dividend payout ratio (DPR) is presently 25.40%.

Insider Buying and Selling

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brown Capital Management LLC raised its stake in shares of Bio-Techne by 12.4% during the 4th quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after purchasing an additional 392,986 shares in the last quarter. Morgan Stanley raised its position in Bio-Techne by 4.5% during the third quarter. Morgan Stanley now owns 3,305,826 shares of the biotechnology company’s stock worth $225,028,000 after acquiring an additional 143,716 shares in the last quarter. Mairs & Power Inc. lifted its stake in Bio-Techne by 0.8% in the fourth quarter. Mairs & Power Inc. now owns 3,079,483 shares of the biotechnology company’s stock valued at $237,613,000 after acquiring an additional 25,903 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Bio-Techne by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,862,526 shares of the biotechnology company’s stock valued at $201,493,000 after acquiring an additional 351,645 shares during the period. Finally, Mackenzie Financial Corp increased its stake in shares of Bio-Techne by 3.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,399,327 shares of the biotechnology company’s stock worth $185,132,000 after purchasing an additional 70,294 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

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.