Bio-Techne Co. (NASDAQ:TECH) Receives Average Rating of “Moderate Buy” from Brokerages

Bio-Techne Co. (NASDAQ:TECH) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $81.00.

Several research firms have recently commented on TECH. Robert W. Baird lifted their price target on shares of Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Citigroup lowered shares of Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research report on Wednesday, May 22nd. Finally, Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Thursday, May 2nd.

Bio-Techne Trading Down 0.5 %

Shares of Bio-Techne stock opened at $71.24 on Wednesday. The stock has a market cap of $11.23 billion, a P/E ratio of 56.54, a P/E/G ratio of 8.61 and a beta of 1.29. The stock’s 50 day simple moving average is $76.14 and its 200-day simple moving average is $72.99. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $89.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. Analysts predict that Bio-Techne will post 1.56 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Hedge Funds Weigh In On Bio-Techne

Several institutional investors have recently modified their holdings of TECH. Lindbrook Capital LLC grew its stake in shares of Bio-Techne by 23.8% during the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 177 shares in the last quarter. Czech National Bank grew its stake in shares of Bio-Techne by 0.7% during the fourth quarter. Czech National Bank now owns 27,698 shares of the biotechnology company’s stock worth $2,137,000 after purchasing an additional 181 shares in the last quarter. First City Capital Management Inc. grew its stake in shares of Bio-Techne by 6.2% during the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after purchasing an additional 185 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 191 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of Bio-Techne by 1.5% during the first quarter. WCM Investment Management LLC now owns 13,220 shares of the biotechnology company’s stock worth $931,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.