Bio-Techne Co. (NASDAQ:TECH) Receives $80.60 Consensus PT from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $80.60.

Several brokerages have weighed in on TECH. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Royal Bank of Canada reduced their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird lifted their price objective 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.

Institutional Investors Weigh In On Bio-Techne

Institutional investors and hedge funds have recently made changes to their positions in the stock. First City Capital Management Inc. raised its position in Bio-Techne by 6.2% in the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock valued at $224,000 after purchasing an additional 185 shares during the period. Empirical Finance LLC grew its stake in shares of Bio-Techne by 5.2% in the first quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 195 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Bio-Techne by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock worth $137,000 after buying an additional 205 shares during the period. Mather Group LLC. lifted its stake in Bio-Techne by 51.5% in the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 208 shares during the last quarter. Finally, Wahed Invest LLC grew its holdings in Bio-Techne by 9.0% during the 4th quarter. Wahed Invest LLC now owns 2,652 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 220 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

Shares of TECH opened at $73.36 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The company’s fifty day moving average price is $74.35 and its 200-day moving average price is $74.36. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57. The firm has a market capitalization of $11.64 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 5.27 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same period in the prior year, the company earned $0.56 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts predict that Bio-Techne will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 19th. Bio-Techne’s payout ratio is presently 23.08%.

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.