Bio-Techne (NASDAQ:TECH) Cut to “Hold” at Stephens

Bio-Techne (NASDAQ:TECH) was downgraded by analysts at Stephens from a “strong-buy” rating to a “hold” rating in a research report issued on Friday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company reduced their price objective on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Evercore upgraded Bio-Techne from a “hold” rating to a “strong-buy” rating in a report on Thursday. Citigroup downgraded shares of Bio-Techne from a “buy” rating to a “neutral” rating in a research report on Friday. Zacks Research lowered shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Finally, Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.07.

Bio-Techne Price Performance

TECH stock opened at $71.00 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The company’s 50-day moving average is $52.95 and its 200-day moving average is $57.09. The stock has a market capitalization of $11.12 billion, a PE ratio of 102.90, a price-to-earnings-growth ratio of 6.85 and a beta of 1.37. Bio-Techne has a 1 year low of $43.19 and a 1 year high of $72.16.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts expect that Bio-Techne will post 1.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently made changes to their positions in the business. Danske Bank A S bought a new stake in shares of Bio-Techne during the 4th quarter worth $29,000. eCIO Inc. bought a new position in Bio-Techne during the fourth quarter valued at about $30,000. Measured Wealth Private Client Group LLC bought a new position in Bio-Techne during the third quarter valued at about $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the third quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after buying an additional 562 shares during the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

More Bio-Techne News

Here are the key news stories impacting Bio-Techne this week:

• Positive Sentiment: Merck KGaA’s all-cash buyout offer gives Bio-Techne shareholders a clear takeover price and a premium valuation anchor. Merck KGaA, Darmstadt, Germany, Agrees to Acquire Bio-Techne, Strengthening Leadership Position in Fast-Growing Life Sciences Markets
• Positive Sentiment: Analyst actions were mixed but included an upgrade from Evercore to strong-buy and a price-target increase from Baird to $73, reinforcing the view that the shares were moving toward deal value.
• Neutral Sentiment: Unusual call-option activity suggests traders are positioning for further merger-related volatility, but that activity does not change the takeover terms.
• Negative Sentiment: Shareholder-law-firm investigations have begun over whether the Merck deal provides a fair price, which could add some headline risk and scrutiny around the transaction. SHAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of Bio-Techne Corporation (NASDAQ: TECH)

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.