Bio-Techne Co. (NASDAQ:TECH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Bio-Techne Co. (NASDAQ:TECH) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $80.60.

TECH has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada lowered their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently made changes to their positions in the business. Private Advisor Group LLC increased its holdings in Bio-Techne by 12.1% in the 4th quarter. Private Advisor Group LLC now owns 7,772 shares of the biotechnology company’s stock valued at $600,000 after purchasing an additional 841 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bio-Techne by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock valued at $56,646,000 after buying an additional 118,534 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Bio-Techne by 18.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,953 shares of the biotechnology company’s stock valued at $12,044,000 after buying an additional 25,508 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Bio-Techne by 33.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,705 shares of the biotechnology company’s stock worth $903,000 after acquiring an additional 2,958 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Bio-Techne by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,120 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Down 2.6 %

Shares of TECH opened at $78.30 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 62.14, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27. The firm has a 50 day simple moving average of $75.25 and a 200-day simple moving average of $73.99.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. During the same quarter last year, the business posted $0.56 earnings per share. Bio-Techne’s revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that Bio-Techne will post 1.71 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s dividend payout ratio is currently 25.40%.

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.