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

Bio-Techne Co. (NASDAQ:TECH) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $80.60.

TECH has been the topic of several research analyst reports. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research note on Wednesday, May 22nd. Benchmark reissued a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Robert W. Baird lifted their target price on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th.

Bio-Techne Trading Up 2.0 %

Shares of TECH stock opened at $74.67 on Monday. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $74.92 and a 200 day simple moving average of $73.89. Bio-Techne has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The stock has a market capitalization of $11.84 billion, a P/E ratio of 59.26, a P/E/G ratio of 4.95 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. During the same quarter last year, the company posted $0.56 EPS. Bio-Techne’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that Bio-Techne will post 1.71 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne’s dividend payout ratio is 25.40%.

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently added to or reduced their stakes in TECH. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne in the 2nd quarter valued at $25,000. Brown Brothers Harriman & Co. boosted its stake in Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne during the 2nd quarter worth approximately $31,000. Mather Group LLC. acquired a new stake in Bio-Techne during the 1st quarter worth $38,000. Finally, DT Investment Partners LLC bought a new stake in Bio-Techne during the 2nd quarter worth approximately $36,000. Institutional investors 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.