Scotiabank Forecasts Strong Price Appreciation for Bio-Techne (NASDAQ:TECH) Stock

Bio-Techne (NASDAQ:TECH) had its price objective raised by investment analysts at Scotiabank from $88.00 to $90.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s price target would indicate a potential upside of 23.61% from the stock’s current price.

A number of other analysts have also commented on the company. KeyCorp boosted their price target on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird upped their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $72.81 on Thursday. The stock’s fifty day simple moving average is $74.61 and its 200 day simple moving average is $74.37. 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 company has a market capitalization of $11.57 billion, a PE ratio of 77.46, a PEG ratio of 5.42 and a beta of 1.27. Bio-Techne has a 12 month low of $61.16 and a 12 month high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Bio-Techne will post 1.68 EPS for the current year.

Insider Activity at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently modified their holdings of TECH. Empirical Finance LLC increased its stake in Bio-Techne by 4.1% during the 3rd quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock worth $326,000 after acquiring an additional 160 shares during the period. Bradley Foster & Sargent Inc. CT increased its position in shares of Bio-Techne by 1.5% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 160 shares during the period. UMB Bank n.a. increased its position in shares of 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 during the period. Verdence Capital Advisors LLC lifted its position in Bio-Techne by 1.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 11,967 shares of the biotechnology company’s stock worth $862,000 after purchasing an additional 173 shares during the period. Finally, Fifth Third Bancorp grew its stake in Bio-Techne by 2.3% during the fourth quarter. Fifth Third Bancorp now owns 8,394 shares of the biotechnology company’s stock worth $605,000 after buying an additional 189 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

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.