Bio-Techne (NASDAQ:TECH) Upgraded at StockNews.com

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

TECH has been the topic of several other research reports. Royal Bank of Canada dropped their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Finally, Robert W. Baird upped their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Stock Performance

NASDAQ TECH opened at $74.69 on Tuesday. The firm’s fifty day moving average price is $74.15 and its two-hundred day moving average price is $75.32. The stock has a market cap of $11.87 billion, a PE ratio of 79.46, a PEG ratio of 5.54 and a beta of 1.28. Bio-Techne has a fifty-two week low of $56.45 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56.

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

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently modified their holdings of TECH. Itau Unibanco Holding S.A. purchased a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $25,000. Brown Brothers Harriman & Co. boosted its holdings in Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after buying an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne in the 2nd quarter worth approximately $31,000. DT Investment Partners LLC bought a new position in Bio-Techne in the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc boosted its holdings in Bio-Techne by 1,427.8% in the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after buying an additional 514 shares during the period. Hedge funds and other 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.