UBS Group Raises Bio-Techne (NASDAQ:TECH) Price Target to $70.00

Bio-Techne (NASDAQ:TECH) had its target price raised by equities researchers at UBS Group from $65.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. UBS Group’s price objective would suggest a potential upside of 21.93% from the stock’s previous close.

TECH has been the topic of several other reports. Evercore ISI upped their target price on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Wells Fargo & Company boosted their price target on Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen raised their price objective on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada upgraded Bio-Techne from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 3rd. Finally, Scotiabank lowered their target price on Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $71.17.

Bio-Techne Trading Down 1.3%

NASDAQ:TECH opened at $57.41 on Thursday. Bio-Techne has a 1 year low of $46.01 and a 1 year high of $79.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The stock has a fifty day moving average price of $57.63 and a two-hundred day moving average price of $53.76. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 124.81, a PEG ratio of 3.63 and a beta of 1.51.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $286.56 million for the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. As a group, sell-side analysts anticipate that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bio-Techne

Several institutional investors have recently added to or reduced their stakes in TECH. Blue Trust Inc. boosted its stake in Bio-Techne by 109.7% in the 3rd quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after buying an additional 237 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 248 shares during the period. AlphaQuest LLC acquired a new stake in shares of Bio-Techne in the first quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in Bio-Techne during the third quarter worth approximately $37,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Company Profile

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.