Bio-Techne Co. (NASDAQ:TECH) Receives $82.00 Average PT from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $82.00.

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank increased their target price 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, Robert W. Baird boosted their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st.

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently added to or reduced their stakes in TECH. Principal Financial Group Inc. lifted its holdings in Bio-Techne by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 261,900 shares of the biotechnology company’s stock worth $20,934,000 after buying an additional 1,843 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Bio-Techne during the third quarter valued at $1,188,000. Synovus Financial Corp boosted its holdings in Bio-Techne by 1.5% in the third quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company’s stock valued at $1,057,000 after acquiring an additional 198 shares during the last quarter. Tidal Investments LLC increased its position in Bio-Techne by 17.7% in the third quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company’s stock worth $2,313,000 after purchasing an additional 4,356 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its holdings in Bio-Techne by 55.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company’s stock worth $372,000 after purchasing an additional 1,656 shares during the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

NASDAQ TECH opened at $72.98 on Wednesday. The company’s fifty day moving average is $73.39 and its two-hundred day moving average is $74.34. Bio-Techne has a 52-week low of $61.16 and a 52-week high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 77.64, a P/E/G ratio of 5.52 and a beta of 1.27.

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

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Bio-Techne’s dividend payout ratio is 34.04%.

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.