Bio-Techne Corp (NASDAQ:TECH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Bio-Techne Corp (NASDAQ:TECH) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $72.7692.

A number of equities analysts recently issued reports on the company. Robert W. Baird set a $70.00 target price on Bio-Techne in a research note on Thursday, February 5th. Citigroup reissued a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Bio-Techne in a report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft set a $72.00 price objective on Bio-Techne and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. Finally, UBS Group reiterated a “buy” rating and issued a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TECH. MidFirst Bank purchased a new stake in Bio-Techne in the fourth quarter valued at $223,000. Alberta Investment Management Corp purchased a new stake in shares of Bio-Techne in the fourth quarter worth about $1,300,000. Wellington Management Group LLP grew its holdings in Bio-Techne by 12.1% during the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after acquiring an additional 618,916 shares during the period. Alpine Peaks Capital LP raised its position in Bio-Techne by 43.1% during the fourth quarter. Alpine Peaks Capital LP now owns 51,500 shares of the biotechnology company’s stock valued at $3,029,000 after acquiring an additional 15,500 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in Bio-Techne by 20.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 118,799 shares of the biotechnology company’s stock valued at $6,987,000 after acquiring an additional 20,423 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Up 1.5%

NASDAQ:TECH opened at $51.59 on Friday. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13. Bio-Techne has a twelve month low of $46.01 and a twelve month high of $72.16. The company has a market cap of $8.07 billion, a PE ratio of 101.16, a P/E/G ratio of 3.37 and a beta of 1.48. The company’s 50 day moving average is $61.12 and its two-hundred day moving average is $59.75.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. Bio-Techne had a net margin of 6.67% and a return on equity of 13.94%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Analysts anticipate that Bio-Techne will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, February 13th. Bio-Techne’s dividend payout ratio is 62.75%.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.