BidaskClub upgraded shares of BIO-TECHNE (NASDAQ:TECH) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.
TECH has been the subject of a number of other reports. Leerink Swann reissued a buy rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Robert W. Baird reissued a buy rating and set a $154.00 price target on shares of BIO-TECHNE in a research note on Thursday, January 18th. Zacks Investment Research lowered BIO-TECHNE from a buy rating to a hold rating in a research note on Tuesday, December 19th. Craig Hallum reissued a buy rating and set a $160.00 price target (up from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. Finally, Deutsche Bank set a $163.00 price target on BIO-TECHNE and gave the company a buy rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $148.60.
Shares of BIO-TECHNE stock opened at $148.18 on Friday. BIO-TECHNE has a 1 year low of $98.22 and a 1 year high of $148.87. The stock has a market capitalization of $5,552.90, a PE ratio of 48.58, a P/E/G ratio of 2.84 and a beta of 0.75. 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 announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The company had revenue of $154.15 million during the quarter, compared to analyst estimates of $145.93 million. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. analysts forecast that BIO-TECHNE will post 4.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Thursday, February 15th. BIO-TECHNE’s payout ratio is 41.97%.
In other news, Director Charles A. Dinarello sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of BIO-TECHNE in the 4th quarter valued at approximately $118,000. Advisory Services Network LLC lifted its stake in shares of BIO-TECHNE by 1,423.3% in the 4th quarter. Advisory Services Network LLC now owns 1,112 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 1,039 shares during the last quarter. Advisor Group Inc. lifted its stake in shares of BIO-TECHNE by 64.5% in the 4th quarter. Advisor Group Inc. now owns 1,288 shares of the biotechnology company’s stock valued at $167,000 after purchasing an additional 505 shares during the last quarter. Zions Bancorporation bought a new stake in shares of BIO-TECHNE in the 3rd quarter valued at approximately $178,000. Finally, Gofen & Glossberg LLC IL bought a new stake in shares of BIO-TECHNE in the 4th quarter valued at approximately $205,000. 97.15% of the stock is owned by institutional investors and hedge funds.
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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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