Bio-Techne Corp (NASDAQ:TECH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday, November 4th. The firm currently has a $143.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.10% from the company’s current price.
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. “
Other research analysts have also issued research reports about the company. Citigroup Inc. restated a “buy” rating and set a $115.00 target price (down previously from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Deutsche Bank AG set a $145.00 price target on Bio-Techne Corp and gave the company a “buy” rating in a report on Tuesday, October 31st. BidaskClub upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Wells Fargo & Company started coverage on Bio-Techne Corp in a report on Thursday, July 13th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Bio-Techne Corp currently has a consensus rating of “Buy” and an average target price of $134.33.
Shares of Bio-Techne Corp (TECH) opened at $124.24 on Friday. The company has a market capitalization of $4,654.30, a price-to-earnings ratio of 35.80, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74. Bio-Techne Corp has a fifty-two week low of $95.68 and a fifty-two week high of $132.57. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35.
Bio-Techne Corp (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. The firm had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. sell-side analysts expect that Bio-Techne Corp will post 3.76 earnings per share for the current year.
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In other news, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now owns 12,712 shares in the company, valued at approximately $1,654,848.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the sale, the director now owns 914 shares of the company’s stock, valued at approximately $111,261.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,259 shares of company stock worth $804,102. 3.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of TECH. Janus Henderson Group PLC raised its stake in Bio-Techne Corp by 334.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock worth $139,603,000 after acquiring an additional 914,554 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Bio-Techne Corp by 174.8% during the second quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock worth $85,962,000 after acquiring an additional 465,398 shares during the period. Koch Industries Inc. acquired a new position in shares of Bio-Techne Corp during the second quarter worth about $286,000. Schroder Investment Management Group increased its stake in shares of Bio-Techne Corp by 222.0% during the second quarter. Schroder Investment Management Group now owns 342,815 shares of the biotechnology company’s stock worth $40,220,000 after acquiring an additional 236,362 shares during the period. Finally, SG Capital Management LLC acquired a new position in shares of Bio-Techne Corp during the second quarter worth about $24,094,000. 98.08% of the stock is owned by institutional investors.
Bio-Techne Corp Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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