Bio-Techne (NASDAQ:TECH) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Bio-Techne (NASDAQ:TECH) from a hold rating to a moderate buy rating in a research note released on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on TECH. Benchmark reaffirmed a “buy” rating and issued a $75.00 price target on shares of Bio-Techne in a research note on Thursday, June 5th. Wells Fargo & Company assumed coverage on Bio-Techne in a research note on Friday, May 30th. They issued an “overweight” rating and a $59.00 price target for the company. UBS Group lowered their price target on Bio-Techne from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Stifel Nicolaus lowered their target price on Bio-Techne from $75.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. Finally, Stephens raised Bio-Techne to a “strong-buy” rating and set a $65.00 target price for the company in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.42.

Bio-Techne Stock Performance

Shares of TECH stock opened at $54.41 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The stock has a market cap of $8.53 billion, a PE ratio of 118.29, a price-to-earnings-growth ratio of 3.37 and a beta of 1.47. The stock has a 50-day moving average of $53.90 and a 200-day moving average of $53.79. Bio-Techne has a one year low of $46.01 and a one year high of $80.95.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The company had revenue of $316.96 million during the quarter, compared to analysts’ expectations of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.Bio-Techne’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. As a group, sell-side analysts expect that Bio-Techne will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. Bio-Techne’s dividend payout ratio is 69.57%.

Hedge Funds Weigh In On Bio-Techne

Large investors have recently bought and sold shares of the company. CX Institutional acquired a new position in Bio-Techne during the 1st quarter worth approximately $27,000. AlphaQuest LLC acquired a new position in Bio-Techne during the 1st quarter worth approximately $34,000. Allworth Financial LP boosted its position in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 248 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Bio-Techne during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds 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.