Brokerages Set Bio-Techne Co. (NASDAQ:TECH) PT at $82.00

Shares of Bio-Techne Co. (NASDAQ:TECH) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $82.00.

A number of equities research analysts recently issued reports on the company. Scotiabank increased their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Robert W. Baird raised their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

Bio-Techne Stock Down 0.3 %

Shares of NASDAQ TECH opened at $72.98 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The stock has a market capitalization of $11.60 billion, a PE ratio of 77.64, a P/E/G ratio of 5.52 and a beta of 1.27. Bio-Techne has a one year low of $61.16 and a one year high of $85.57. The business’s fifty day moving average price is $73.42 and its 200-day moving average price is $74.27.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts anticipate that Bio-Techne will post 1.68 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is 34.04%.

Institutional Trading of Bio-Techne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECH. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Bio-Techne by 60.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,122 shares of the biotechnology company’s stock worth $2,158,000 after buying an additional 11,371 shares during the period. APG Asset Management N.V. raised its position in shares of Bio-Techne by 9.8% in the 2nd quarter. APG Asset Management N.V. now owns 81,138 shares of the biotechnology company’s stock worth $5,424,000 after acquiring an additional 7,275 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Bio-Techne in the 3rd quarter valued at approximately $1,188,000. XTX Topco Ltd boosted its position in shares of Bio-Techne by 89.1% during the second quarter. XTX Topco Ltd now owns 17,043 shares of the biotechnology company’s stock valued at $1,221,000 after purchasing an additional 8,032 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Bio-Techne in the third quarter worth $43,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.