Wells Fargo & Company Raises Bio-Techne (NASDAQ:TECH) Price Target to $76.00

Bio-Techne (NASDAQ:TECH) had its price objective boosted by equities researchers at Wells Fargo & Company from $70.00 to $76.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 13.81% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TECH. UBS Group reaffirmed a “buy” rating and issued a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $72.00 target price on Bio-Techne and gave the company a “buy” rating in a research report on Friday, December 12th. Evercore increased their price target on shares of Bio-Techne from $62.00 to $68.00 and gave the stock an “in-line” rating in a research report on Thursday. Argus raised their price objective on shares of Bio-Techne from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Finally, Zacks Research downgraded shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and a consensus price target of $72.77.

Bio-Techne Price Performance

Shares of TECH opened at $66.78 on Friday. The firm has a 50-day simple moving average of $63.30 and a two-hundred day simple moving average of $59.41. The stock has a market cap of $10.45 billion, a PE ratio of 130.94, a P/E/G ratio of 4.61 and a beta of 1.48. Bio-Techne has a 1-year low of $46.01 and a 1-year high of $75.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.54 and a quick ratio of 2.81.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The firm had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts forecast that Bio-Techne will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Bio-Techne

Large investors have recently modified their holdings of the company. Wellington Management Group LLP raised 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 purchasing an additional 3,978,026 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after buying an additional 2,495,328 shares in the last quarter. Invesco Ltd. raised its stake in Bio-Techne by 7.7% in the third quarter. Invesco Ltd. now owns 3,946,028 shares of the biotechnology company’s stock valued at $219,518,000 after buying an additional 283,303 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in 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 worth $183,975,000 after buying an additional 807,147 shares during the last quarter. Finally, Mairs & Power Inc. boosted its position in shares of Bio-Techne by 3.4% during the 3rd quarter. Mairs & Power Inc. now owns 2,807,409 shares of the biotechnology company’s stock worth $156,176,000 after acquiring an additional 91,031 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other 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.