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.
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