Bio-Techne (NASDAQ:TECH) Rating Increased to Buy at StockNews.com

Bio-Techne (NASDAQ:TECH) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other brokerages also recently issued reports on TECH. Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird increased their target price on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.78.

Bio-Techne Stock Up 2.1 %

Shares of NASDAQ TECH opened at $75.31 on Friday. The stock has a market cap of $11.95 billion, a P/E ratio of 80.12, a PEG ratio of 5.33 and a beta of 1.28. The business’s fifty day simple moving average is $73.75 and its 200-day simple moving average is $74.60. Bio-Techne has a 12-month low of $52.99 and a 12-month high of $85.57. The company has a current ratio of 4.56, a quick ratio of 2.75 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same quarter last year, the company earned $0.56 EPS. Bio-Techne’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Bio-Techne will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECH. First City Capital Management Inc. increased its holdings in shares of Bio-Techne by 6.2% in the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock valued at $224,000 after acquiring an additional 185 shares during the period. Empirical Finance LLC increased its stake in Bio-Techne by 5.2% in the first quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 195 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Bio-Techne by 12.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock valued at $137,000 after buying an additional 205 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Bio-Techne by 51.5% during the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after buying an additional 208 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in Bio-Techne by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock valued at $302,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.