Bio-Techne Co. (NASDAQ:TECH) Receives $81.00 Consensus Target Price from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $81.00.

A number of brokerages have issued reports on TECH. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Citigroup cut shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, May 22nd. Finally, Robert W. Baird raised their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd.

Institutional Trading of Bio-Techne

Several large investors have recently made changes to their positions in the company. Raymond James & Associates raised its stake in Bio-Techne by 16.3% during the fourth quarter. Raymond James & Associates now owns 298,489 shares of the biotechnology company’s stock worth $23,031,000 after buying an additional 41,929 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Bio-Techne by 127.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 134,815 shares of the biotechnology company’s stock valued at $10,402,000 after purchasing an additional 75,653 shares in the last quarter. Fifth Third Bancorp increased its stake in Bio-Techne by 67.2% in the fourth quarter. Fifth Third Bancorp now owns 5,908 shares of the biotechnology company’s stock valued at $456,000 after purchasing an additional 2,374 shares in the last quarter. State of Michigan Retirement System increased its stake in Bio-Techne by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 43,344 shares of the biotechnology company’s stock valued at $3,344,000 after purchasing an additional 200 shares in the last quarter. Finally, Trust Point Inc. bought a new stake in Bio-Techne in the fourth quarter valued at $624,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $82.35 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. The firm has a market cap of $12.98 billion, a P/E ratio of 64.88, a P/E/G ratio of 8.55 and a beta of 1.29. The firm has a 50 day simple moving average of $76.23 and a 200 day simple moving average of $73.16. Bio-Techne has a fifty-two week low of $51.79 and a fifty-two week high of $85.85.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating 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 business had revenue of $303.43 million during the quarter, compared to analyst estimates of $292.36 million. During the same quarter last year, the business posted $0.47 earnings per share. Bio-Techne’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Bio-Techne will post 1.56 earnings per share for the current fiscal year.

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.