Bio-Techne Co. (NASDAQ:TECH) Receives $81.78 Consensus PT from Analysts

Bio-Techne Co. (NASDAQ:TECH) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $81.78.

TECH has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada reduced their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Scotiabank lifted their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Finally, Benchmark restated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th.

Bio-Techne Trading Down 0.5 %

Shares of NASDAQ:TECH opened at $75.96 on Tuesday. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 80.81, a price-to-earnings-growth ratio of 5.54 and a beta of 1.28. The business’s 50 day moving average price is $74.14 and its 200-day moving average price is $75.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. Bio-Techne has a 1 year low of $55.63 and a 1 year high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. During the same period in the prior year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is 34.04%.

Institutional Investors Weigh In On Bio-Techne

Institutional investors have recently added to or reduced their stakes in the company. Empirical Finance LLC raised its holdings in shares of Bio-Techne by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock valued at $326,000 after buying an additional 160 shares during the period. First City Capital Management Inc. increased its stake in Bio-Techne by 6.2% during the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after buying an additional 185 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Bio-Techne by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,333 shares of the biotechnology company’s stock worth $426,000 after buying an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after buying an additional 205 shares in the last quarter. Finally, Mather Group LLC. boosted its position in Bio-Techne by 51.5% in the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares during the last quarter. 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.