BIO-TECHNE Corp (TECH) Receives $145.00 Consensus Target Price from Analysts

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.

Analyst Recommendations for BIO-TECHNE (NASDAQ:TECH)

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