BIO-TECHNE (TECH) Downgraded by ValuEngine
A number of other brokerages also recently issued reports on TECH. BidaskClub downgraded BIO-TECHNE from a hold rating to a sell rating in a report on Tuesday, December 18th. Argus reaffirmed a buy rating on shares of BIO-TECHNE in a report on Monday, March 4th. Zacks Investment Research downgraded BIO-TECHNE from a hold rating to a sell rating in a report on Thursday, December 20th. Stephens raised BIO-TECHNE from an equal weight rating to an overweight rating and set a $180.00 price target for the company in a report on Monday, January 14th. Finally, Craig Hallum reaffirmed a hold rating and issued a $179.00 price target (up from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $188.13.
TECH stock opened at $189.16 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.31 and a current ratio of 4.35. BIO-TECHNE has a fifty-two week low of $132.75 and a fifty-two week high of $206.04. The company has a market cap of $7.14 billion, a P/E ratio of 46.48, a PEG ratio of 4.54 and a beta of 1.25.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Executive Wealth Management LLC acquired a new stake in shares of BIO-TECHNE in the fourth quarter valued at approximately $38,000. First Hawaiian Bank boosted its holdings in shares of BIO-TECHNE by 59.9% in the first quarter. First Hawaiian Bank now owns 219 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 82 shares during the period. Portfolio Solutions LLC acquired a new stake in shares of BIO-TECHNE in the fourth quarter valued at approximately $50,000. Financial Gravity Wealth Inc. acquired a new stake in shares of BIO-TECHNE in the first quarter valued at approximately $54,000. Finally, We Are One Seven LLC acquired a new stake in shares of BIO-TECHNE in the fourth quarter valued at approximately $121,000. 93.94% of the stock is owned by hedge funds and other institutional investors.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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