Bio-Techne Co. (NASDAQ:TECH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Bio-Techne Co. (NASDAQ:TECH) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $82.00.

A number of research firms have recently issued reports on TECH. Scotiabank upped their price objective 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 research note on Tuesday, November 12th. Finally, Robert W. Baird boosted their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

Bio-Techne Trading Down 2.3 %

Shares of Bio-Techne stock opened at $76.91 on Friday. The company has a 50 day simple moving average of $73.94 and a two-hundred day simple moving average of $74.46. The firm has a market cap of $12.22 billion, a PE ratio of 81.82, a PEG ratio of 5.81 and a beta of 1.27. Bio-Techne has a 1 year low of $61.16 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. The company had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Analysts expect that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is 34.04%.

Institutional Trading of Bio-Techne

A number of institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in Bio-Techne in the 2nd quarter worth about $120,000. Dimensional Fund Advisors LP raised its holdings in shares of Bio-Techne by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after purchasing an additional 76,641 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Bio-Techne by 59.4% during the second quarter. Mutual of America Capital Management LLC now owns 32,821 shares of the biotechnology company’s stock valued at $2,352,000 after purchasing an additional 12,234 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Bio-Techne by 18.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 5,553 shares of the biotechnology company’s stock valued at $398,000 after purchasing an additional 872 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Bio-Techne by 17.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,321 shares of the biotechnology company’s stock worth $1,167,000 after purchasing an additional 2,390 shares during the last quarter. Institutional investors 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.