Bio-Techne Co. (NASDAQ:TECH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Bio-Techne Co. (NASDAQ:TECH) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Three investment 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 brokers that have issued a report on the stock in the last year is $82.00.

A number of research analysts have weighed in on the stock. 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 upped their price objective 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, Scotiabank raised their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently modified their holdings of TECH. Point72 Asset Management L.P. bought a new stake in Bio-Techne during the 3rd quarter worth approximately $89,724,000. Point72 DIFC Ltd purchased a new position in shares of Bio-Techne during the 3rd quarter valued at $20,071,000. Mackenzie Financial Corp increased its holdings in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after purchasing an additional 216,044 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Bio-Techne by 4,392.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 123,013 shares of the biotechnology company’s stock worth $8,861,000 after buying an additional 120,275 shares in the last quarter. Finally, Broadcrest Asset Management LLC boosted its stake in Bio-Techne by 100.0% during the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after buying an additional 100,000 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Stock Down 2.3 %

TECH stock opened at $76.91 on Friday. The stock has a market cap of $12.22 billion, a P/E ratio of 81.82, a P/E/G ratio of 5.81 and a beta of 1.27. 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’s fifty day simple moving average is $73.94 and its two-hundred day simple moving average is $74.46. Bio-Techne has a 1-year low of $61.16 and a 1-year high of $85.57.

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

Bio-Techne Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) 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.