Bio-Techne (NASDAQ:TECH) Price Target Cut to $82.00 by Analysts at Deutsche Bank Aktiengesellschaft

Bio-Techne (NASDAQ:TECH) had its price objective cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $85.00 to $82.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 30.72% from the stock’s previous close.

TECH has been the subject of a number of other reports. Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Friday, February 2nd. Stephens lowered their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Royal Bank of Canada cut their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Finally, Scotiabank started coverage on Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.90.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $62.73 on Thursday. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 7.24 and a beta of 1.22. The stock’s 50 day moving average is $70.73 and its 200-day moving average is $68.70. Bio-Techne has a twelve month low of $51.79 and a twelve month high of $89.91. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $272.60 million during the quarter, compared to analysts’ expectations of $277.48 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Sell-side analysts forecast that Bio-Techne will post 1.53 EPS for the current fiscal year.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the transaction, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.45% of the company’s stock.

Institutional Trading of Bio-Techne

Large investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Bio-Techne during the 3rd quarter valued at about $27,000. Harbour Investments Inc. boosted its position in shares of Bio-Techne by 305.0% during the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 244 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Bio-Techne during the 4th quarter valued at about $29,000. CVA Family Office LLC bought a new stake in shares of Bio-Techne during the 4th quarter valued at about $31,000. Finally, Mather Group LLC. bought a new stake in shares of Bio-Techne during the 1st quarter valued at about $38,000. 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.