Bio-Techne (NASDAQ:TECH) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two 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 1-year price target among brokerages that have updated their coverage on the stock in the last year is $151.40.
Several research firms have commented on TECH. ValuEngine raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised shares of Bio-Techne from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research report on Saturday, February 10th. 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 report on Wednesday, February 7th. BidaskClub raised shares of Bio-Techne from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 16th. Finally, Robert W. Baird increased their price target on shares of Bio-Techne from $154.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Bio-Techne by 3.0% during the first quarter. BlackRock Inc. now owns 3,684,936 shares of the biotechnology company’s stock valued at $556,573,000 after acquiring an additional 106,355 shares in the last quarter. Jackson Square Partners LLC increased its holdings in shares of Bio-Techne by 8.1% during the fourth quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock valued at $120,662,000 after acquiring an additional 69,784 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Bio-Techne by 428.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 463,234 shares of the biotechnology company’s stock valued at $69,966,000 after acquiring an additional 375,629 shares in the last quarter. Citadel Advisors LLC increased 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 valued at $53,988,000 after acquiring an additional 93,175 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Bio-Techne by 13.7% during the fourth quarter. First Trust Advisors LP now owns 410,991 shares of the biotechnology company’s stock valued at $53,244,000 after acquiring an additional 49,470 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.
TECH stock opened at $152.63 on Thursday. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 44.63, a PEG ratio of 2.51 and a beta of 0.72. Bio-Techne has a one year low of $109.12 and a one year high of $154.56. The company has a quick ratio of 4.30, a current ratio of 5.55 and a debt-to-equity ratio of 0.37.
Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 2nd. The biotechnology company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.07. The business had revenue of $164.00 million during the quarter, compared to analyst estimates of $163.43 million. Bio-Techne had a net margin of 18.29% and a return on equity of 14.75%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. analysts predict that Bio-Techne will post 4.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Monday, May 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, May 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.84%. Bio-Techne’s dividend payout ratio (DPR) is currently 37.43%.
Bio-Techne Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.
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