Bio-Techne (NASDAQ:TECH) Raised to Buy at StockNews.com

Bio-Techne (NASDAQ:TECH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued reports about the stock. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Royal Bank of Canada reduced their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Scotiabank raised their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $75.31 on Friday. The business’s 50 day moving average price is $73.75 and its 200-day moving average price is $74.60. Bio-Techne has a 1 year low of $52.99 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 2.75. The firm has a market capitalization of $11.95 billion, a PE ratio of 80.12, a P/E/G ratio of 5.33 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. As a group, equities research analysts expect that Bio-Techne will post 1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently made changes to their positions in TECH. Price T Rowe Associates Inc. MD raised its position in Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock valued at $404,470,000 after purchasing an additional 2,755,065 shares during the period. Mackenzie Financial Corp lifted its stake in Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after acquiring an additional 88,257 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after acquiring an additional 290,510 shares during the period. Finally, Janus Henderson Group PLC grew its position in Bio-Techne by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company’s stock valued at $70,095,000 after acquiring an additional 12,991 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

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.