Bio-Techne (NASDAQ:TECH) Price Target Raised to $81.00

Bio-Techne (NASDAQ:TECH) had its target price upped by Robert W. Baird from $73.00 to $81.00 in a report published on Thursday, Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a buy rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada cut their price target on shares of Bio-Techne from $85.00 to $75.00 and set a sector perform rating on the stock in a research note on Friday, February 2nd. Scotiabank initiated coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a sector outperform rating and a $80.00 price objective on the stock. Stifel Nicolaus downgraded shares of Bio-Techne from a buy rating to a hold rating and set a $65.00 price objective on the stock. in a report on Friday, February 2nd. Finally, Stephens dropped their price objective on shares of Bio-Techne from $92.00 to $87.00 and set an overweight rating on the stock in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $80.50.

Bio-Techne Price Performance

TECH stock opened at $77.29 on Thursday. Bio-Techne has a 12 month low of $51.79 and a 12 month high of $89.91. The company has a current ratio of 4.08, a quick ratio of 3.03 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $69.76 and a 200 day moving average price of $68.55. The stock has a market cap of $12.15 billion, a PE ratio of 61.34, a P/E/G ratio of 9.62 and a beta of 1.23.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $292.36 million. During the same period in the previous year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Bio-Techne will post 1.52 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, May 10th. Bio-Techne’s dividend payout ratio is presently 25.40%.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bio-Techne

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its position in shares of Bio-Techne by 831.4% in the fourth quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock valued at $3,565,000 after buying an additional 41,244 shares during the last quarter. Andra AP fonden boosted its stake in Bio-Techne by 113.4% during the third quarter. Andra AP fonden now owns 39,900 shares of the biotechnology company’s stock worth $2,716,000 after buying an additional 21,200 shares during the period. Deutsche Bank AG boosted its stake in Bio-Techne by 11.1% during the third quarter. Deutsche Bank AG now owns 611,813 shares of the biotechnology company’s stock worth $41,646,000 after buying an additional 61,190 shares during the period. Nordea Investment Management AB boosted its stake in Bio-Techne by 7.8% during the fourth quarter. Nordea Investment Management AB now owns 10,494 shares of the biotechnology company’s stock worth $815,000 after buying an additional 761 shares during the period. Finally, Diversified Trust Co boosted its stake in Bio-Techne by 32.6% during the third quarter. Diversified Trust Co now owns 12,826 shares of the biotechnology company’s stock worth $873,000 after buying an additional 3,156 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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.