Bio-Techne (NASDAQ:TECH) Stock Rating Upgraded by Zacks Research

Bio-Techne (NASDAQ:TECH) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada cut shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th. Argus cut shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 26th. Wells Fargo & Company cut shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $62.00 to $73.00 in a research report on Thursday, August 13th. Weiss Ratings raised shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Bio-Techne has an average rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Stock Down 0.1%

TECH opened at $72.66 on Thursday. Bio-Techne has a 12 month low of $43.19 and a 12 month high of $72.75. The company has a 50 day moving average of $72.45 and a 200 day moving average of $63.28. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09. The company has a market cap of $11.41 billion, a PE ratio of 63.18, a price-to-earnings-growth ratio of 5.28 and a beta of 1.30.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company had revenue of $321.19 million during the quarter, compared to analysts’ expectations of $314.63 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. Bio-Techne’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that Bio-Techne will post 1.75 EPS for the current year.

Institutional Trading of Bio-Techne

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Bio-Techne during the 2nd quarter worth approximately $990,924,000. HBK Investments L P bought a new position in shares of Bio-Techne in the second quarter worth approximately $482,186,000. Ruane Cunniff & Goldfarb L.P. grew its holdings in shares of Bio-Techne by 131.4% in the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock worth $177,266,000 after purchasing an additional 1,926,066 shares during the last quarter. Amundi grew its holdings in shares of Bio-Techne by 2,426.8% in the second quarter. Amundi now owns 1,827,241 shares of the biotechnology company’s stock worth $129,095,000 after purchasing an additional 1,754,926 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Bio-Techne in the second quarter worth $90,305,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.