Several other equities analysts have also weighed in on the stock. TheStreet lowered shares of BIO-TECHNE from a b rating to a c+ rating in a report on Tuesday, August 6th. ValuEngine lowered shares of BIO-TECHNE from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Janney Montgomery Scott upgraded shares of BIO-TECHNE from a neutral rating to a buy rating and upped their price objective for the company from $200.00 to $270.00 in a report on Tuesday, July 2nd. Finally, Zacks Investment Research lowered shares of BIO-TECHNE from a buy rating to a sell rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. BIO-TECHNE currently has a consensus rating of Hold and an average price target of $211.17.
Shares of TECH opened at $200.43 on Tuesday. The company has a current ratio of 4.05, a quick ratio of 3.15 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $7.59 billion, a P/E ratio of 52.74, a price-to-earnings-growth ratio of 4.24 and a beta of 1.21. The firm’s fifty day simple moving average is $194.19 and its two-hundred day simple moving average is $200.26. BIO-TECHNE has a 12 month low of $132.75 and a 12 month high of $217.15.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.64%. BIO-TECHNE’s dividend payout ratio is currently 33.68%.
In other BIO-TECHNE news, Director Robert V. Baumgartner bought 500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $191.06 per share, for a total transaction of $95,530.00. Following the acquisition, the director now directly owns 8,726 shares of the company’s stock, valued at approximately $1,667,189.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles R. Kummeth sold 33,031 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $212.60, for a total transaction of $7,022,390.60. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new stake in shares of BIO-TECHNE in the 2nd quarter worth about $27,000. Advisory Services Network LLC raised its holdings in shares of BIO-TECHNE by 183.3% in the 2nd quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 99 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in shares of BIO-TECHNE in the 1st quarter worth about $58,000. HM Payson & Co. acquired a new stake in shares of BIO-TECHNE in the 2nd quarter worth about $63,000. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of BIO-TECHNE by 1,694.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 323 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 305 shares during the last quarter. Institutional investors own 91.65% of the company’s stock.
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 in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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