Argus Issues Positive Forecast for Bio-Techne (NASDAQ:TECH) Stock Price

Bio-Techne (NASDAQ:TECH) had its target price raised by analysts at Argus from $65.00 to $68.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Argus’ price objective would indicate a potential upside of 17.63% from the stock’s previous close.

Several other research firms have also commented on TECH. Cowen reiterated a “buy” rating on shares of Bio-Techne in a report on Tuesday, October 14th. TD Cowen raised their price objective on shares of Bio-Techne from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Wells Fargo & Company increased their price target on shares of Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Citigroup raised shares of Bio-Techne from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $70.00 in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Bio-Techne currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.92.

Bio-Techne Trading Down 0.6%

Shares of Bio-Techne stock opened at $57.81 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The stock’s 50 day simple moving average is $58.52 and its 200-day simple moving average is $54.29. The stock has a market cap of $9.01 billion, a P/E ratio of 125.68, a P/E/G ratio of 3.63 and a beta of 1.51. Bio-Techne has a 1-year low of $46.01 and a 1-year high of $79.28.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $286.56 million during the quarter, compared to analysts’ expectations of $292.02 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. Analysts predict that Bio-Techne will post 1.67 EPS for the current fiscal year.

Institutional Trading of Bio-Techne

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECH. Blue Trust Inc. boosted its position in shares of Bio-Techne by 109.7% during the third 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 period. Allworth Financial LP grew its position in Bio-Techne by 68.1% in the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 248 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Bio-Techne in the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd purchased a new stake in Bio-Techne during the third quarter worth about $33,000. Finally, AlphaQuest LLC acquired a new stake in shares of Bio-Techne during the first quarter worth about $34,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.