Analysts Set Bio-Techne Co. (NASDAQ:TECH) Price Target at $476.00

Bio-Techne Co. (NASDAQ:TECH) has been assigned a consensus rating of “Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $476.00.

A number of research firms have weighed in on TECH. Robert W. Baird upped their target price on Bio-Techne from $522.00 to $548.00 and gave the stock an “outperform” rating in a report on Wednesday, November 3rd. Argus upped their price target on Bio-Techne from $490.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 24th. Benchmark upped their price target on Bio-Techne from $480.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Finally, Zacks Investment Research downgraded Bio-Techne from a “buy” rating to a “hold” rating in a research note on Wednesday, November 10th.

TECH traded up $4.25 during midday trading on Friday, reaching $476.97. 216,995 shares of the company’s stock traded hands, compared to its average volume of 251,118. The firm has a fifty day moving average of $502.49 and a two-hundred day moving average of $472.93. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 110.15, a P/E/G ratio of 3.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.06 and a quick ratio of 3.18. Bio-Techne has a 52 week low of $296.00 and a 52 week high of $543.85.

Bio-Techne (NASDAQ:TECH) last posted its earnings results on Monday, November 1st. The biotechnology company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.11. Bio-Techne had a return on equity of 15.86% and a net margin of 17.94%. The firm had revenue of $257.72 million for the quarter, compared to the consensus estimate of $254.37 million. During the same quarter in the prior year, the business earned $1.15 EPS. Sell-side analysts forecast that Bio-Techne will post 6.87 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 26th. Shareholders of record on Friday, November 12th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, November 10th. This represents a $1.28 annualized dividend and a yield of 0.27%. Bio-Techne’s dividend payout ratio is 29.56%.

In related news, insider Kim Kelderman sold 500 shares of the firm’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $505.38, for a total value of $252,690.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Norman David Eansor sold 1,538 shares of the firm’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $503.07, for a total value of $773,721.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,552 shares of company stock worth $26,601,419. Company insiders own 4.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Bio-Techne by 14.3% in the 2nd quarter. BlackRock Inc. now owns 5,228,672 shares of the biotechnology company’s stock worth $2,354,260,000 after buying an additional 654,082 shares in the last quarter. Vanguard Group Inc. increased its stake in Bio-Techne by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,733,181 shares of the biotechnology company’s stock worth $1,680,902,000 after buying an additional 21,019 shares in the last quarter. State Street Corp grew its position in shares of Bio-Techne by 35.7% during the second quarter. State Street Corp now owns 1,215,684 shares of the biotechnology company’s stock valued at $547,374,000 after purchasing an additional 319,530 shares in the last quarter. Ownership Capital B.V. grew its position in shares of Bio-Techne by 2.0% during the second quarter. Ownership Capital B.V. now owns 1,086,131 shares of the biotechnology company’s stock valued at $489,041,000 after purchasing an additional 20,929 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Bio-Techne by 30.9% during the third quarter. Geode Capital Management LLC now owns 732,254 shares of the biotechnology company’s stock valued at $353,935,000 after purchasing an additional 172,930 shares in the last quarter. Institutional investors and hedge funds own 94.29% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics &Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.

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Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

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