Bio-Techne Co. (NASDAQ:TECH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Bio-Techne Co. (NASDAQ:TECH) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $81.78.

TECH has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Scotiabank lifted their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reduced their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th.

Hedge Funds Weigh In On Bio-Techne

Several large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in Bio-Techne during the 2nd quarter valued at $25,000. Brown Brothers Harriman & Co. boosted its holdings in Bio-Techne by 922.5% during the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in Bio-Techne during the second quarter worth about $31,000. DT Investment Partners LLC bought a new stake in Bio-Techne in the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc increased its stake in Bio-Techne by 1,427.8% in the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 514 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Down 0.0 %

Bio-Techne stock opened at $75.36 on Friday. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 80.17, a PEG ratio of 5.50 and a beta of 1.28. Bio-Techne has a 52-week low of $61.16 and a 52-week high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. The firm has a 50 day moving average price of $73.63 and a two-hundred day moving average price of $75.14.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Bio-Techne’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. Equities analysts predict that Bio-Techne will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s payout ratio is presently 34.04%.

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.