Zacks Investment Research upgraded shares of BIO-TECHNE (NASDAQ:TECH) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “
Several other brokerages have also commented on TECH. Argus boosted their target price on shares of BIO-TECHNE from $210.00 to $230.00 and gave the stock a buy rating in a research report on Tuesday, October 2nd. BidaskClub lowered shares of BIO-TECHNE from a strong-buy rating to a buy rating in a research report on Thursday, October 4th. ValuEngine upgraded shares of BIO-TECHNE from a buy rating to a strong-buy rating in a research report on Tuesday, September 11th. Goldman Sachs Group assumed coverage on shares of BIO-TECHNE in a research report on Wednesday, October 17th. They set a neutral rating and a $190.00 target price on the stock. Finally, Citigroup boosted their target price on shares of BIO-TECHNE from $160.00 to $205.00 and gave the stock a buy rating in a research report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $181.00.
Shares of NASDAQ TECH opened at $156.22 on Wednesday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 40.94, a P/E/G ratio of 2.83 and a beta of 1.05. BIO-TECHNE has a one year low of $125.84 and a one year high of $206.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.50 and a current ratio of 4.59.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. The company had revenue of $163.00 million for the quarter, compared to analyst estimates of $162.34 million. BIO-TECHNE had a net margin of 19.19% and a return on equity of 14.09%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Analysts forecast that BIO-TECHNE will post 3.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, November 8th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
Large investors have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC acquired a new position in shares of BIO-TECHNE during the 2nd quarter worth $113,000. Fort L.P. acquired a new position in shares of BIO-TECHNE during the 2nd quarter worth $115,000. Robecosam AG acquired a new position in shares of BIO-TECHNE during the 2nd quarter worth $144,000. Meeder Asset Management Inc. raised its stake in shares of BIO-TECHNE by 220.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock worth $145,000 after buying an additional 489 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of BIO-TECHNE during the 3rd quarter worth $192,000. 93.90% of the stock is owned by institutional investors and hedge funds.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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