Bio-Techne (NASDAQ:TECH) Upgraded at Royal Bank Of Canada

Bio-Techne (NASDAQ:TECH) was upgraded by equities research analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

TECH has been the subject of a number of other research reports. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a research report on Thursday, May 7th. Citigroup dropped their price target on Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Evercore set a $50.00 price target on Bio-Techne in a report on Thursday, May 7th. Robert W. Baird set a $49.00 price target on Bio-Techne in a report on Thursday, May 7th. Finally, Wells Fargo & Company dropped their price target on Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.92.

Bio-Techne Stock Performance

TECH opened at $43.30 on Thursday. The company has a market cap of $6.78 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 3.38 and a beta of 1.41. The stock has a 50-day moving average of $52.99 and a 200-day moving average of $58.80. Bio-Techne has a 52-week low of $43.19 and a 52-week high of $72.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. As a group, equities research analysts forecast that Bio-Techne will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bio-Techne

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in shares of Bio-Techne by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 153 shares during the period. Accredited Investors Inc. increased its stake in shares of Bio-Techne by 2.7% in the 4th quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock valued at $356,000 after buying an additional 161 shares during the period. Allworth Financial LP increased its stake in shares of Bio-Techne by 28.4% in the 3rd quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 174 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Bio-Techne by 3.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after buying an additional 181 shares during the period. Finally, Angeles Wealth Management LLC increased its stake in shares of Bio-Techne by 3.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock valued at $317,000 after buying an additional 189 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.