Bio-Techne (NASDAQ:TECH) PT Raised to $81.00

Bio-Techne (NASDAQ:TECH) had its target price hoisted by equities research analysts at Robert W. Baird from $73.00 to $81.00 in a report released on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 10.26% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Scotiabank began coverage on Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price for the company. Stifel Nicolaus cut Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Friday, February 2nd. Stephens decreased their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.00.

Bio-Techne Price Performance

Shares of TECH opened at $73.46 on Thursday. The company has a market capitalization of $11.55 billion, a price-to-earnings ratio of 53.23, a P/E/G ratio of 7.87 and a beta of 1.23. Bio-Techne has a fifty-two week low of $51.79 and a fifty-two week high of $89.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The business’s 50-day moving average is $69.57 and its 200-day moving average is $68.44.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $272.60 million during the quarter, compared to the consensus estimate of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Equities research analysts expect that Bio-Techne will post 1.52 EPS for the current fiscal year.

Insider Activity at Bio-Techne

In related news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Palisade Asset Management LLC raised its stake in Bio-Techne by 20.1% during the first quarter. Palisade Asset Management LLC now owns 55,534 shares of the biotechnology company’s stock worth $3,909,000 after acquiring an additional 9,275 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Bio-Techne by 2.3% during the first quarter. Janney Montgomery Scott LLC now owns 10,164 shares of the biotechnology company’s stock worth $715,000 after acquiring an additional 227 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Bio-Techne by 51.5% during the first quarter. BNP Paribas Financial Markets now owns 216,174 shares of the biotechnology company’s stock worth $15,216,000 after acquiring an additional 73,453 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Bio-Techne by 97.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,181 shares of the biotechnology company’s stock worth $9,959,000 after acquiring an additional 68,813 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in Bio-Techne by 29.1% during the first quarter. Private Advisor Group LLC now owns 10,031 shares of the biotechnology company’s stock worth $706,000 after acquiring an additional 2,259 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.