Bio-Techne Corp (TECH) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company assumed coverage on shares of Bio-Techne Corp (NASDAQ:TECH) in a report released on Thursday, July 13th, MarketBeat.com reports. The firm set a “market perform” rating on the biotechnology company’s stock.

A number of other brokerages have also issued reports on TECH. Zacks Investment Research upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Thursday, July 6th. Deutsche Bank AG restated a “buy” rating and set a $122.00 target price (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Janney Montgomery Scott lowered Bio-Techne Corp from a “buy” rating to a “neutral” rating in a report on Monday, March 27th. BidaskClub lowered Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Bio-Techne Corp has a consensus rating of “Buy” and an average target price of $123.20.

Bio-Techne Corp (NASDAQ:TECH) opened at 113.59 on Thursday. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $121.94. The stock has a 50 day moving average price of $116.32 and a 200-day moving average price of $108.28. The stock has a market cap of $4.24 billion, a PE ratio of 61.10 and a beta of 0.79.

Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. Bio-Techne Corp had a return on equity of 13.80% and a net margin of 12.86%. Bio-Techne Corp’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, equities analysts expect that Bio-Techne Corp will post $3.62 EPS for the current year.

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In other news, Director Charles A. Dinarello sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total transaction of $556,850.00. Following the sale, the director now directly owns 12,473 shares in the company, valued at approximately $1,389,118.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 10,200 shares of company stock worth $1,135,648 over the last 90 days. Insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of Bio-Techne Corp by 0.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the biotechnology company’s stock worth $372,000 after buying an additional 20 shares in the last quarter. Capstone Asset Management Co. raised its position in Bio-Techne Corp by 0.4% in the second quarter. Capstone Asset Management Co. now owns 7,680 shares of the biotechnology company’s stock worth $902,000 after buying an additional 30 shares during the period. State of Wisconsin Investment Board raised its position in Bio-Techne Corp by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 7,392 shares of the biotechnology company’s stock worth $869,000 after buying an additional 50 shares during the period. Flinton Capital Management LLC raised its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares during the period. Finally, American Capital Management Inc. raised its position in Bio-Techne Corp by 1.1% in the second quarter. American Capital Management Inc. now owns 9,470 shares of the biotechnology company’s stock worth $1,113,000 after buying an additional 105 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

About Bio-Techne Corp

Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.

Analyst Recommendations for Bio-Techne Corp (NASDAQ:TECH)

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