Bio-Techne (NASDAQ:TECH) Price Target Cut to $82.00 by Analysts at Deutsche Bank Aktiengesellschaft

Bio-Techne (NASDAQ:TECH) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $85.00 to $82.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other equities research analysts also recently weighed in on the company. Royal Bank of Canada cut their price target on Bio-Techne from $85.00 to $75.00 and set a sector perform rating on the stock in a research report on Friday, February 2nd. Stifel Nicolaus downgraded Bio-Techne from a buy rating to a hold rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. Scotiabank began coverage on Bio-Techne in a research report on Thursday, February 8th. They set a sector outperform rating and a $80.00 price target on the stock. Finally, Stephens dropped their target price on Bio-Techne from $92.00 to $87.00 and set an overweight rating on the stock in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $83.90.

Bio-Techne Price Performance

NASDAQ TECH opened at $62.21 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The stock’s fifty day moving average price is $70.61 and its 200 day moving average price is $68.65. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $89.91. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 7.09 and a beta of 1.22.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $272.60 million during the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. As a group, equities research analysts forecast that Bio-Techne will post 1.53 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Monday, February 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, February 9th. Bio-Techne’s payout ratio is 23.19%.

Insider Buying and Selling

In related news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now directly owns 43,097 shares in the company, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bio-Techne in the 3rd quarter worth approximately $27,000. Harbour Investments Inc. lifted its stake in Bio-Techne by 305.0% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 244 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in Bio-Techne in the 4th quarter worth approximately $29,000. CVA Family Office LLC purchased a new position in Bio-Techne in the 4th quarter worth approximately $31,000. Finally, Mather Group LLC. purchased a new position in Bio-Techne in the 1st quarter worth approximately $38,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

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.