Bio-Techne (NASDAQ:TECH) Stock Rating Lowered by StockNews.com

Bio-Techne (NASDAQ:TECH) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also weighed in on TECH. KeyCorp boosted their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price objective on Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Baird R W cut Bio-Techne from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Citigroup reduced their price target on shares of Bio-Techne from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Robert W. Baird downgraded shares of Bio-Techne from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.25.

Bio-Techne Stock Down 1.0 %

NASDAQ TECH traded down $0.60 during trading on Wednesday, hitting $59.38. The company’s stock had a trading volume of 1,912,909 shares, compared to its average volume of 1,080,502. Bio-Techne has a fifty-two week low of $56.60 and a fifty-two week high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77. The company has a market cap of $9.39 billion, a PE ratio of 59.98, a P/E/G ratio of 2.88 and a beta of 1.30. The business’s 50 day simple moving average is $67.23 and its 200-day simple moving average is $71.64.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, equities analysts anticipate that Bio-Techne will post 1.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bio-Techne news, Director Amy E. Herr sold 1,860 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the sale, the director now directly owns 1,976 shares of the company’s stock, valued at approximately $130,336.96. This trade represents a 48.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Bio-Techne

Institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in Bio-Techne during the third quarter worth $39,000. UMB Bank n.a. increased its stake in shares of Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 168 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Bio-Techne during the 3rd quarter worth about $43,000. Itau Unibanco Holding S.A. purchased a new position in Bio-Techne in the 4th quarter valued at about $41,000. Finally, GeoWealth Management LLC acquired a new stake in Bio-Techne in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.