Bio-Techne (NASDAQ:TECH) Stock Price Expected to Rise, KeyCorp Analyst Says

Bio-Techne (NASDAQ:TECH) had its price objective hoisted by research analysts at KeyCorp from $80.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. KeyCorp’s price objective points to a potential upside of 23.61% from the company’s current price.

A number of other equities analysts have also recently issued reports on TECH. Scotiabank upped 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. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird lifted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target of $86.57.

Bio-Techne Price Performance

Bio-Techne stock opened at $72.81 on Thursday. 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 has a 52 week low of $61.16 and a 52 week high of $85.57. The stock has a market capitalization of $11.57 billion, a P/E ratio of 77.46, a price-to-earnings-growth ratio of 5.42 and a beta of 1.27. The stock has a fifty day moving average of $74.61 and a 200-day moving average of $74.37.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. On average, sell-side analysts expect that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bio-Techne by 12.0% during 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. Sanctuary Advisors LLC bought a new position in Bio-Techne during the second quarter worth $564,000. Czech National Bank grew its holdings in Bio-Techne by 6.9% in the third quarter. Czech National Bank now owns 32,101 shares of the biotechnology company’s stock worth $2,566,000 after purchasing an additional 2,072 shares during the period. GAMMA Investing LLC increased its stake in Bio-Techne by 30.0% in the third quarter. GAMMA Investing LLC now owns 2,563 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 591 shares in the last quarter. Finally, Mather Group LLC. raised 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 valued at $49,000 after purchasing an additional 208 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

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.