Bio-Techne (NASDAQ:TECH) Hits New 1-Year High – Time to Buy?

Bio-Techne Corp (NASDAQ:TECH) reached a new 52-week high during trading on Tuesday . The stock traded as high as $72.62 and last traded at $72.6550, with a volume of 2053544 shares. The stock had previously closed at $72.47.

Analyst Ratings Changes

TECH has been the topic of several recent research reports. Stephens set a $73.00 price target on shares of Bio-Techne and gave the company an “equal weight” rating in a research report on Friday, June 26th. Royal Bank Of Canada lowered shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $62.00 to $73.00 in a report on Thursday, July 9th. Zacks Research upgraded shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Evercore lowered shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Piper Sandler assumed coverage on Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Trading Down 0.0%

The company has a market cap of $11.37 billion, a PE ratio of 63.06, a price-to-earnings-growth ratio of 8.78 and a beta of 1.28. The company’s 50 day simple moving average is $72.19 and its two-hundred day simple moving average is $61.44. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The firm had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bio-Techne Corp will post 1.73 EPS for the current fiscal year.

Bio-Techne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were given a dividend of $0.65 per share. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Institutional Investors Weigh In On Bio-Techne

Several institutional investors and hedge funds have recently modified their holdings of the company. HBK Investments L P purchased a new stake in Bio-Techne during the second quarter worth about $482,186,000. WINTON GROUP Ltd purchased a new position in shares of Bio-Techne in the second quarter valued at approximately $4,750,000. Engineers Gate Manager LP acquired a new position in shares of Bio-Techne in the second quarter valued at approximately $2,105,000. SVB Wealth LLC purchased a new stake in Bio-Techne during the 2nd quarter worth approximately $244,000. Finally, NorthRock Partners LLC acquired a new stake in Bio-Techne during the 2nd quarter worth approximately $239,000. Hedge funds and other institutional investors own 98.95% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops and supplies research, diagnostic and bioprocessing products. Its portfolio includes proteins, antibodies, immunoassays, molecular biology reagents, cell and gene therapy tools, and instruments used by academic, pharmaceutical, biotechnology and diagnostic laboratories.

The company operates through brands including R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics. Its products support applications such as protein analysis, spatial biology, single-cell research, biomarker discovery, drug development and the manufacture of cell and gene therapies.