Bio-Techne Corp (NASDAQ:TECH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Bio-Techne Corp (NASDAQ:TECH) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $70.9231.

Several research firms have recently issued reports on TECH. Weiss Ratings reissued a “sell (d+)” rating on shares of Bio-Techne in a research report on Wednesday, October 8th. TD Cowen upped their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Citigroup raised Bio-Techne from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $70.00 in a research report on Thursday, August 21st. Argus boosted their price objective on Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. Finally, Zacks Research upgraded Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Bio-Techne by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company’s stock worth $666,933,000 after purchasing an additional 721,012 shares in the last quarter. Select Equity Group L.P. grew its position in shares of Bio-Techne by 129.8% in the 1st quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock worth $314,609,000 after acquiring an additional 3,030,644 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Bio-Techne by 349.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after acquiring an additional 3,978,026 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Bio-Techne by 9.7% in the 1st quarter. Invesco Ltd. now owns 4,190,115 shares of the biotechnology company’s stock valued at $245,666,000 after acquiring an additional 369,651 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of Bio-Techne by 32.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock valued at $183,975,000 after acquiring an additional 807,147 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

TECH stock opened at $58.82 on Wednesday. The company has a market cap of $9.16 billion, a PE ratio of 120.04, a price-to-earnings-growth ratio of 3.94 and a beta of 1.46. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $61.43 and a two-hundred day moving average price of $55.67. Bio-Techne has a 12-month low of $46.01 and a 12-month high of $79.28.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The business had revenue of $286.56 million during the quarter, compared to analysts’ expectations of $292.02 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts predict that Bio-Techne will post 1.67 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s dividend payout ratio (DPR) is 65.31%.

About Bio-Techne

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.