Bio-Techne Co. (NASDAQ:TECH) Receives $82.00 Consensus Target Price from Brokerages

Shares of Bio-Techne Co. (NASDAQ:TECH) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $82.00.

TECH has been the topic of several research reports. 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. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank upped their price objective 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.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently made changes to their positions in TECH. Itau Unibanco Holding S.A. bought a new stake in Bio-Techne in the 2nd quarter worth about $25,000. UMB Bank n.a. grew its position in Bio-Techne by 46.4% in the 4th 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. Brooklyn Investment Group bought a new stake in Bio-Techne in the 3rd quarter worth about $39,000. Quest Partners LLC bought a new stake in Bio-Techne in the 3rd quarter worth about $43,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in Bio-Techne by 60.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 253 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH opened at $78.75 on Friday. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $12.51 billion, a P/E ratio of 83.78, a price-to-earnings-growth ratio of 5.59 and a beta of 1.27. The firm’s fifty day simple moving average is $73.89 and its two-hundred day simple moving average is $74.43. Bio-Techne has a 12 month low of $61.16 and a 12 month high of $85.57.

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

Bio-Techne Announces Dividend

The firm also recently announced 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 0.41%. Bio-Techne’s dividend payout ratio is presently 34.04%.

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.