Bio-Techne (NASDAQ:TECH) Upgraded at StockNews.com

StockNews.com upgraded shares of Bio-Techne (NASDAQ:TECH) from a hold rating to a buy rating in a report released on Tuesday morning.

A number of other research firms also recently weighed in on TECH. Benchmark restated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank upped their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their target price on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada cut their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Price Performance

NASDAQ:TECH opened at $72.54 on Tuesday. The company has a market capitalization of $11.53 billion, a P/E ratio of 77.17, a P/E/G ratio of 5.43 and a beta of 1.28. The business’s 50-day moving average is $74.31 and its 200 day moving average is $75.37. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne has a 12 month low of $60.04 and a 12 month high of $85.57.

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

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Bio-Techne’s dividend payout ratio is currently 34.04%.

Institutional Trading of Bio-Techne

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Finance LLC boosted its stake in shares of Bio-Techne by 4.1% during the third quarter. Empirical Finance LLC now owns 4,080 shares of the biotechnology company’s stock valued at $326,000 after purchasing an additional 160 shares during the period. First City Capital Management Inc. lifted its holdings in Bio-Techne by 6.2% during the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 185 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Bio-Techne by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,333 shares of the biotechnology company’s stock valued at $426,000 after buying an additional 200 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Bio-Techne by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after acquiring an additional 205 shares in the last quarter. Finally, Mather Group LLC. increased its position 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 worth $49,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.