Bio-Techne (NASDAQ:TECH) Rating Lowered to Strong Sell at Zacks Research

Bio-Techne (NASDAQ:TECH) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on TECH. Royal Bank Of Canada set a $62.00 price target on shares of Bio-Techne and gave the company an “outperform” rating in a research report on Thursday, May 14th. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Wells Fargo & Company dropped their price target on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus set a $50.00 price target on shares of Bio-Techne in a research report on Thursday, May 7th. Finally, Evercore set a $50.00 price target on shares of Bio-Techne in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.17.

Bio-Techne Trading Up 3.3%

Shares of TECH stock opened at $54.41 on Monday. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. Bio-Techne has a 12-month low of $43.19 and a 12-month high of $72.16. The firm has a 50 day moving average price of $52.08 and a two-hundred day moving average price of $57.51. The company has a market capitalization of $8.52 billion, a PE ratio of 78.86, a price-to-earnings-growth ratio of 5.03 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts predict that Bio-Techne will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its position in Bio-Techne by 2.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 5,752 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 153 shares in the last quarter. Accredited Investors Inc. grew its stake in shares of Bio-Techne by 2.7% during the fourth quarter. Accredited Investors Inc. now owns 6,052 shares of the biotechnology company’s stock worth $356,000 after buying an additional 161 shares during the last quarter. Allworth Financial LP grew its stake in shares of Bio-Techne by 28.4% during the third quarter. Allworth Financial LP now owns 786 shares of the biotechnology company’s stock worth $44,000 after buying an additional 174 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Bio-Techne by 3.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock worth $315,000 after buying an additional 181 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of Bio-Techne by 3.4% during the third quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock worth $317,000 after buying an additional 189 shares during the last quarter. 98.95% of the stock is currently 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.