Analysts Set Bio-Techne Co. (NASDAQ:TECH) PT at $81.78

Bio-Techne Co. (NASDAQ:TECH) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $81.78.

A number of equities research analysts have commented on the company. Royal Bank of Canada decreased their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Scotiabank raised their price target on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Robert W. Baird raised their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in Bio-Techne in the second quarter worth about $25,000. Brown Brothers Harriman & Co. grew its position in Bio-Techne by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Bio-Techne during the second quarter valued at approximately $31,000. DT Investment Partners LLC purchased a new position in shares of Bio-Techne during the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its position in shares of Bio-Techne by 1,427.8% during the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

NASDAQ TECH opened at $75.89 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. The business’s fifty day moving average is $73.52 and its 200 day moving average is $74.87. The company has a market capitalization of $12.06 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 5.55 and a beta of 1.27. Bio-Techne has a fifty-two week low of $61.16 and a fifty-two week high of $85.57.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Bio-Techne will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were given a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 34.04%.

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.