Bio-Techne Corp (NASDAQ:TECH) Given Average Rating of “Hold” by Analysts

Bio-Techne Corp (NASDAQ:TECH) has been assigned a consensus recommendation of “Hold” from the eighteen research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $67.7857.

TECH has been the subject of a number of research analyst reports. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a report on Thursday, May 7th. TD Cowen cut Bio-Techne from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Zacks Research lowered shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Finally, Benchmark cut shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday.

Institutional Investors Weigh In On Bio-Techne

Institutional investors and hedge funds have recently bought and sold shares of the business. Asset Management One Co. Ltd. grew its holdings in shares of 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 during the last quarter. Accredited Investors Inc. lifted its holdings 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 worth $356,000 after purchasing an additional 161 shares during the last quarter. Allworth Financial LP lifted its holdings 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 worth $44,000 after purchasing an additional 174 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Bio-Techne by 3.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,351 shares of the biotechnology company’s stock valued at $315,000 after purchasing an additional 181 shares during the period. Finally, Angeles Wealth Management LLC boosted its position in Bio-Techne by 3.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 5,703 shares of the biotechnology company’s stock valued at $317,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ:TECH opened at $70.83 on Friday. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 102.65, a price-to-earnings-growth ratio of 8.44 and a beta of 1.29. Bio-Techne has a one year low of $43.19 and a one year high of $72.16. The stock has a 50-day simple moving average of $54.12 and a 200 day simple moving average of $57.48. 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 announced its quarterly earnings data 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). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. During the same quarter in the previous year, the company earned $0.56 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Bio-Techne will post 1.65 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne’s dividend payout ratio is currently 46.38%.

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.