Scotiabank Issues Positive Forecast for Bio-Techne (NASDAQ:TECH) Stock Price

Bio-Techne (NASDAQ:TECH) had its price objective raised by analysts at Scotiabank from $88.00 to $90.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s target price points to a potential upside of 23.61% from the company’s previous close.

Several other research analysts also recently commented on the company. KeyCorp lifted their target price on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird lifted their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and an average target price of $86.57.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $72.81 on Thursday. The stock’s 50-day moving average is $74.61 and its 200-day moving average is $74.37. Bio-Techne has a 1-year low of $61.16 and a 1-year high of $85.57. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The stock has a market cap of $11.57 billion, a P/E ratio of 77.46, a price-to-earnings-growth ratio of 5.42 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. Equities research analysts anticipate that Bio-Techne will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the transaction, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Bio-Techne

Large investors have recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in shares of Bio-Techne during the 3rd quarter worth about $39,000. UMB Bank n.a. raised its stake in Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after buying an additional 168 shares during the period. Quest Partners LLC bought a new position in Bio-Techne in the third quarter worth approximately $43,000. Mather Group LLC. grew 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 valued at $49,000 after acquiring an additional 208 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Bio-Techne by 60.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 253 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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.