Shares of BIO-TECHNE Corp (NASDAQ:TECH) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $182.14.
TECH has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. ValuEngine lowered shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Argus restated a “buy” rating on shares of BIO-TECHNE in a research note on Monday, March 4th. Zacks Investment Research upgraded shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, Goldman Sachs Group set a $165.00 price target on shares of BIO-TECHNE and gave the company a “hold” rating in a research note on Friday, November 30th.
NASDAQ:TECH traded down $8.10 during midday trading on Thursday, reaching $192.34. 193,460 shares of the stock traded hands, compared to its average volume of 141,375. BIO-TECHNE has a 12-month low of $132.75 and a 12-month high of $206.04. The company has a quick ratio of 3.31, a current ratio of 4.35 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 47.26, a PEG ratio of 4.35 and a beta of 1.25.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were paid a $0.32 dividend. The ex-dividend date was Thursday, February 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.67%. BIO-TECHNE’s payout ratio is currently 31.45%.
Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of BIO-TECHNE by 331.1% in the fourth quarter. American Century Companies Inc. now owns 156,965 shares of the biotechnology company’s stock worth $22,716,000 after acquiring an additional 120,557 shares during the period. Geode Capital Management LLC increased its stake in shares of BIO-TECHNE by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock worth $60,275,000 after acquiring an additional 27,587 shares during the period. Norges Bank acquired a new stake in shares of BIO-TECHNE in the fourth quarter worth $70,995,000. Actinver Wealth Management Inc. acquired a new stake in shares of BIO-TECHNE in the fourth quarter worth $537,000. Finally, Executive Wealth Management LLC acquired a new stake in shares of BIO-TECHNE in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.
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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