Robert W. Baird Boosts Bio-Techne (NASDAQ:TECH) Price Target to $81.00

Bio-Techne (NASDAQ:TECH) had its price objective lifted by analysts at Robert W. Baird from $73.00 to $81.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s target price suggests a potential upside of 4.80% from the company’s previous close.

Several other research analysts also recently commented on the stock. Scotiabank initiated coverage on shares of Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price objective for the company. Royal Bank of Canada reduced their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 2nd. Stephens decreased their price objective on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.50.

Bio-Techne Stock Performance

NASDAQ TECH traded up $1.69 on Thursday, hitting $77.29. 1,509,857 shares of the stock traded hands, compared to its average volume of 1,225,112. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 61.34, a PEG ratio of 9.41 and a beta of 1.23. The business’s fifty day moving average is $69.76 and its two-hundred day moving average is $68.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.03 and a current ratio of 4.08. Bio-Techne has a 12 month low of $51.79 and a 12 month high of $89.91.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $303.43 million during the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Bio-Techne will post 1.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the firm’s 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 sale, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Bio-Techne in the 4th quarter valued at $119,771,000. Brown Advisory Inc. boosted its position in Bio-Techne by 1,094.6% during the fourth quarter. Brown Advisory Inc. now owns 809,635 shares of the biotechnology company’s stock valued at $62,471,000 after buying an additional 741,860 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Bio-Techne by 1,389.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 784,543 shares of the biotechnology company’s stock valued at $60,535,000 after buying an additional 731,869 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Bio-Techne by 4,482.1% in the fourth quarter. Corient Private Wealth LLC now owns 633,790 shares of the biotechnology company’s stock worth $48,903,000 after buying an additional 619,958 shares during the period. Finally, Brown Capital Management LLC increased its holdings in shares of Bio-Techne by 12.4% in the fourth quarter. Brown Capital Management LLC now owns 3,550,990 shares of the biotechnology company’s stock worth $273,994,000 after buying an additional 392,986 shares during the period. 98.95% of the stock is currently owned by institutional investors.

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.