Bio-Techne Co. (NASDAQ:TECH) Receives $80.60 Average Price Target from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $80.60.

Several research analysts have weighed in on TECH shares. Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Robert W. Baird boosted their price objective on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Bio-Techne

A number of institutional investors have recently added to or reduced their stakes in TECH. Itau Unibanco Holding S.A. bought a new position in shares of Bio-Techne in the 2nd quarter valued at about $25,000. Brown Brothers Harriman & Co. grew its holdings in 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 purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne during the second quarter worth about $31,000. DT Investment Partners LLC bought a new stake in Bio-Techne in the second quarter valued at approximately $36,000. Finally, Mather Group LLC. bought a new stake in Bio-Techne in the first quarter valued at approximately $38,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Price Performance

Bio-Techne stock opened at $78.30 on Monday. The firm has a market capitalization of $12.34 billion, a P/E ratio of 62.14, a PEG ratio of 5.06 and a beta of 1.27. The business has a 50-day moving average of $75.25 and a 200-day moving average of $73.98. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. On average, equities analysts anticipate that Bio-Techne will post 1.71 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, August 19th. Bio-Techne’s payout ratio is presently 25.40%.

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.