Evercore Boosts Bio-Techne (NASDAQ:TECH) Price Target to $68.00

Bio-Techne (NASDAQ:TECH) had its target price raised by stock analysts at Evercore from $62.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “in-line” rating on the biotechnology company’s stock. Evercore’s price target suggests a potential upside of 1.83% from the stock’s current price.

TECH has been the topic of a number of other reports. Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Robert W. Baird set a $70.00 target price on Bio-Techne in a report on Thursday. Citigroup reissued a “buy” rating and issued a $80.00 price target (up from $70.00) on shares of Bio-Techne in a research note on Wednesday. Argus raised their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Bio-Techne in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Trading Up 1.4%

TECH opened at $66.78 on Thursday. Bio-Techne has a twelve month low of $46.01 and a twelve month high of $75.69. The company has a fifty day moving average of $63.30 and a 200-day moving average of $59.37. The stock has a market cap of $10.45 billion, a PE ratio of 130.94, a price-to-earnings-growth ratio of 4.55 and a beta of 1.48. The company has a quick ratio of 2.81, a current ratio of 4.54 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The business had revenue of $295.88 million for the quarter, compared to analyst estimates of $290.20 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. Bio-Techne’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts predict that Bio-Techne will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TECH. Blue Trust Inc. increased its position in shares of Bio-Techne by 109.7% during the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares in the last quarter. Danske Bank A S acquired a new position in Bio-Techne during the 4th quarter valued at about $29,000. eCIO Inc. acquired a new position in Bio-Techne during the 4th quarter valued at about $30,000. Measured Wealth Private Client Group LLC bought a new stake in Bio-Techne during the 3rd quarter worth approximately $32,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne in the third quarter worth approximately $33,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Company Profile

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.