Bio-Techne (NASDAQ:TECH) Stock Rating Lowered by Evercore ISI

Bio-Techne (NASDAQ:TECH) was downgraded by equities research analysts at Evercore ISI from an “outperform” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat reports. They currently have a $62.00 price target on the biotechnology company’s stock, down from their prior price target of $68.00. Evercore ISI’s target price indicates a potential downside of 5.02% from the stock’s previous close.

Several other equities analysts have also recently issued reports on TECH. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, October 14th. UBS Group lifted 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 Thursday, November 6th. Argus upped their price target on Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Zacks Research lowered Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Finally, TD Cowen lifted their target price on Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.57.

Bio-Techne Stock Performance

Shares of NASDAQ TECH opened at $65.28 on Monday. Bio-Techne has a 1 year low of $46.01 and a 1 year high of $79.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.81 and a current ratio of 4.22. The stock has a fifty day moving average price of $60.42 and a two-hundred day moving average price of $57.05. The firm has a market cap of $10.17 billion, a P/E ratio of 133.23, a PEG ratio of 4.34 and a beta of 1.47.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Research analysts forecast that Bio-Techne will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in Bio-Techne by 109.7% during the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Bio-Techne during the third quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne during the third quarter worth approximately $33,000. Allworth Financial LP grew its position in Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Bio-Techne in the 3rd quarter valued at approximately $37,000. 98.95% of the stock is owned by institutional investors and hedge funds.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.