Bio-Techne Co. (NASDAQ:TECH) Receives $81.78 Consensus Price Target from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $81.78.

A number of equities analysts have commented on TECH shares. Royal Bank of Canada decreased their target price on 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. Robert W. Baird lifted 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. Scotiabank boosted their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector 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 Friday, November 1st. Finally, Benchmark reaffirmed a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th.

Bio-Techne Stock Up 0.8 %

Shares of Bio-Techne stock opened at $76.42 on Tuesday. The business has a 50-day moving average of $74.10 and a 200-day moving average of $74.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The company has a market capitalization of $12.12 billion, a PE ratio of 81.30, a P/E/G ratio of 5.47 and a beta of 1.28. Bio-Techne has a 1-year low of $55.63 and a 1-year 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, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. As a group, equities analysts forecast that Bio-Techne will post 1.7 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Hedge Funds Weigh In On Bio-Techne

A number of hedge funds have recently modified their holdings of TECH. Itau Unibanco Holding S.A. acquired a new position in Bio-Techne during the second quarter worth $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of Bio-Techne by 922.5% during the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after buying an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Bio-Techne during the second quarter worth approximately $31,000. DT Investment Partners LLC acquired a new stake in shares of Bio-Techne during the second quarter worth approximately $36,000. Finally, Versant Capital Management Inc increased its holdings in shares of Bio-Techne by 1,427.8% in the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 514 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

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.