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

Shares of Bio-Techne Co. (NASDAQ:TECH) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $80.60.

Several research analysts have recently issued reports on the stock. Royal Bank of Canada cut 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. Robert W. Baird raised their price target on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Tuesday, August 13th.

Bio-Techne Stock Down 1.7 %

Shares of Bio-Techne stock opened at $72.98 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. Bio-Techne has a 52-week low of $51.79 and a 52-week high of $85.57. The stock has a market capitalization of $11.58 billion, a price-to-earnings ratio of 57.92, a P/E/G ratio of 5.40 and a beta of 1.27. The company’s 50 day moving average price is $74.48 and its 200-day moving average price is $74.26.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same quarter last year, the business earned $0.56 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Equities research analysts forecast that Bio-Techne will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The business 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 annualized dividend and a yield of 0.44%. Bio-Techne’s payout ratio is presently 25.40%.

Institutional Trading of Bio-Techne

Several hedge funds and other institutional investors have recently bought and sold shares of TECH. Itau Unibanco Holding S.A. purchased a new stake in Bio-Techne in the second quarter worth $25,000. Brown Brothers Harriman & Co. increased its stake in Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in Bio-Techne in the second quarter worth $31,000. DT Investment Partners LLC purchased a new stake in Bio-Techne in the second quarter worth $36,000. Finally, Mather Group LLC. purchased a new position in shares of Bio-Techne during the first quarter valued at $38,000. 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.