BIO-TECHNE Corp (TECH) Given Consensus Recommendation of “Buy” by Brokerages
BIO-TECHNE Corp (NASDAQ:TECH) has been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $138.00.
Several research firms have commented on TECH. Robert W. Baird reissued a “buy” rating and set a $154.00 target price on shares of BIO-TECHNE in a research report on Thursday. BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research raised BIO-TECHNE from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research report on Saturday, November 4th. Leerink Swann reaffirmed a “buy” rating on shares of BIO-TECHNE in a research report on Tuesday, December 5th. Finally, Deutsche Bank set a $145.00 price target on BIO-TECHNE and gave the company a “buy” rating in a research report on Tuesday, October 31st.
In other news, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the sale, the director now directly owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.
Several large investors have recently modified their holdings of TECH. Prudential Financial Inc. grew its position in shares of BIO-TECHNE by 1.4% in the second quarter. Prudential Financial Inc. now owns 23,555 shares of the biotechnology company’s stock valued at $2,768,000 after purchasing an additional 330 shares during the last quarter. JPMorgan Chase & Co. grew its position in BIO-TECHNE by 665.7% during the second quarter. JPMorgan Chase & Co. now owns 6,034 shares of the biotechnology company’s stock worth $709,000 after buying an additional 5,246 shares in the last quarter. Eaton Vance Management grew its position in BIO-TECHNE by 0.4% during the second quarter. Eaton Vance Management now owns 2,566 shares of the biotechnology company’s stock worth $302,000 after buying an additional 9 shares in the last quarter. Wells Fargo & Company MN grew its position in BIO-TECHNE by 7.5% during the second quarter. Wells Fargo & Company MN now owns 49,657 shares of the biotechnology company’s stock worth $5,834,000 after buying an additional 3,475 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in BIO-TECHNE by 1.5% during the second quarter. Alliancebernstein L.P. now owns 25,784 shares of the biotechnology company’s stock worth $3,030,000 after buying an additional 390 shares in the last quarter. 96.96% of the stock is currently owned by institutional investors.
BIO-TECHNE (NASDAQ TECH) opened at $140.02 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.25 and a debt-to-equity ratio of 0.35. The company has a market cap of $5,269.81, a price-to-earnings ratio of 72.55, a price-to-earnings-growth ratio of 3.20 and a beta of 0.75. BIO-TECHNE has a 1 year low of $95.68 and a 1 year high of $141.83.
BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. The firm had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. BIO-TECHNE had a net margin of 12.54% and a return on equity of 14.11%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. equities analysts anticipate that BIO-TECHNE will post 3.77 EPS for the current fiscal year.
BIO-TECHNE Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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