Bio-Techne (NASDAQ:TECH) Price Target Raised to $90.00 at Scotiabank

Bio-Techne (NASDAQ:TECH) had its price target boosted by Scotiabank from $88.00 to $90.00 in a report published on Thursday morning,Benzinga reports. They currently have a sector outperform rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on TECH. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. KeyCorp increased their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.57.

Bio-Techne Stock Down 0.3 %

Bio-Techne stock opened at $75.01 on Thursday. The firm has a 50 day simple moving average of $74.61 and a 200 day simple moving average of $74.37. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne has a 1-year low of $61.16 and a 1-year high of $85.57. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 79.80, a P/E/G ratio of 5.42 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. On average, analysts predict that Bio-Techne will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, February 14th. Bio-Techne’s dividend payout ratio (DPR) is currently 32.32%.

Insider Transactions at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bio-Techne

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Empirical Finance LLC lifted its position in Bio-Techne by 4.1% in the 3rd quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock worth $326,000 after buying an additional 160 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of Bio-Techne by 1.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 160 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 168 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Bio-Techne by 1.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 11,967 shares of the biotechnology company’s stock valued at $862,000 after purchasing an additional 173 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Bio-Techne by 2.3% during the 4th quarter. Fifth Third Bancorp now owns 8,394 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 189 shares during the last quarter. 98.95% of the stock is currently 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.