Bio-Techne (NASDAQ:TECH) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Bio-Techne (NASDAQ:TECH) had its price target hoisted by stock analysts at Royal Bank of Canada from $79.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 9.88% from the stock’s current price.

A number of other brokerages also recently weighed in on TECH. Scotiabank increased their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a report on Thursday. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. 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. Finally, KeyCorp upped their price target on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and a consensus price target of $86.57.

Bio-Techne Trading Down 2.9 %

Shares of NASDAQ:TECH 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. The stock’s 50-day moving average is $74.61 and its 200-day moving average is $74.37. The company has a market cap of $11.57 billion, a P/E ratio of 77.46, a P/E/G ratio of 5.42 and a beta of 1.27. Bio-Techne has a 52-week low of $61.16 and a 52-week high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Equities research analysts predict that Bio-Techne will post 1.68 earnings per share for the current year.

Insider Transactions at Bio-Techne

In other news, CEO Kim Kelderman sold 13,392 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECH. Brooklyn Investment Group acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $39,000. UMB Bank n.a. boosted its stake in Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 168 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Bio-Techne during the third quarter worth $43,000. Mather Group LLC. increased its stake in shares of Bio-Techne by 51.5% in the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 208 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Bio-Techne by 60.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 253 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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.