BIO-TECHNE Corp (NASDAQ:TECH) has been assigned a consensus recommendation of “Buy” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $145.00.
Several analysts have weighed in on TECH shares. Zacks Investment Research raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a research report on Saturday, January 20th. Citigroup restated a “buy” rating and set a $115.00 price objective (down from $125.00) on shares of BIO-TECHNE in a research note on Tuesday, October 24th. Leerink Swann restated a “buy” rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Deutsche Bank set a $145.00 price objective on shares of BIO-TECHNE and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $154.00 target price on shares of BIO-TECHNE in a research note on Thursday, January 18th.
In related news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $136.06, for a total value of $680,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TECH. TimesSquare Capital Management LLC purchased a new stake in shares of BIO-TECHNE during the fourth quarter worth $45,083,000. Koch Industries Inc. purchased a new stake in shares of BIO-TECHNE during the second quarter worth $286,000. Lord Abbett & CO. LLC grew its holdings in shares of BIO-TECHNE by 51.8% during the second quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock worth $38,455,000 after buying an additional 111,629 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of BIO-TECHNE by 45.5% during the fourth quarter. Renaissance Technologies LLC now owns 356,000 shares of the biotechnology company’s stock worth $46,120,000 after buying an additional 111,300 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of BIO-TECHNE by 28.8% during the fourth quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock worth $53,988,000 after buying an additional 93,175 shares in the last quarter. 96.07% of the stock is owned by institutional investors.
BIO-TECHNE (NASDAQ:TECH) traded up $0.44 during trading hours on Tuesday, reaching $141.50. 184,500 shares of the company’s stock traded hands, compared to its average volume of 186,530. The stock has a market cap of $5,286.08, a P/E ratio of 38.75, a PEG ratio of 2.59 and a beta of 0.78. BIO-TECHNE has a 12 month low of $98.22 and a 12 month high of $143.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.49 and a current ratio of 3.10.
BIO-TECHNE (NASDAQ:TECH) last released its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. The company had revenue of $154.15 million for the quarter, compared to the consensus estimate of $145.93 million. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. BIO-TECHNE’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. research analysts anticipate that BIO-TECHNE will post 3.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 15th. BIO-TECHNE’s payout ratio is presently 41.97%.
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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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