Robert W. Baird Forecasts Strong Price Appreciation for Bio-Techne (NASDAQ:TECH) Stock

Bio-Techne (NASDAQ:TECH) had its price objective hoisted by stock analysts at Robert W. Baird from $82.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target suggests a potential upside of 10.50% from the company’s current price.

A number of other equities research analysts have also issued reports on TECH. Royal Bank of Canada reduced their target price 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. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.80.

Bio-Techne Stock Performance

TECH opened at $76.02 on Thursday. The stock has a market cap of $11.98 billion, a P/E ratio of 60.33, a P/E/G ratio of 4.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The stock’s 50 day simple moving average is $73.58 and its 200 day simple moving average is $74.52. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, equities analysts anticipate that Bio-Techne will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in shares of Bio-Techne during the 2nd quarter worth $25,000. Brown Brothers Harriman & Co. raised its position in shares of Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after buying an additional 369 shares during the period. Industrial Alliance Investment Management Inc. purchased a new position in shares of Bio-Techne in the 2nd quarter worth $31,000. DT Investment Partners LLC purchased a new position in shares of Bio-Techne in the 2nd quarter worth $36,000. Finally, Versant Capital Management Inc raised its position in shares of Bio-Techne by 1,427.8% in the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.