Bio-Techne Co. (NASDAQ:TECH) Given Average Recommendation of “Moderate Buy” by Analysts

Bio-Techne Co. (NASDAQ:TECH) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $81.00.

TECH has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Robert W. Baird lifted their price target on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a research note on Wednesday, May 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Bio-Techne by 0.5% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 231,435 shares of the biotechnology company’s stock worth $16,582,000 after purchasing an additional 1,060 shares during the last quarter. National Bank of Canada FI lifted its holdings in Bio-Techne by 24.4% in the second quarter. National Bank of Canada FI now owns 43,255 shares of the biotechnology company’s stock valued at $3,097,000 after acquiring an additional 8,491 shares during the last quarter. TD Asset Management Inc lifted its holdings in Bio-Techne by 2.0% in the second quarter. TD Asset Management Inc now owns 236,751 shares of the biotechnology company’s stock valued at $16,963,000 after acquiring an additional 4,587 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in Bio-Techne by 41.3% in the second quarter. Simon Quick Advisors LLC now owns 5,078 shares of the biotechnology company’s stock valued at $364,000 after acquiring an additional 1,483 shares during the last quarter. Finally, Pembroke Management LTD lifted its holdings in Bio-Techne by 12.2% in the second quarter. Pembroke Management LTD now owns 317,756 shares of the biotechnology company’s stock valued at $22,767,000 after acquiring an additional 34,497 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

NASDAQ TECH opened at $80.17 on Friday. The stock has a 50-day simple moving average of $76.25 and a two-hundred day simple moving average of $73.28. The firm has a market capitalization of $12.63 billion, a P/E ratio of 63.63, a PEG ratio of 8.59 and a beta of 1.29. Bio-Techne has a fifty-two week low of $51.79 and a fifty-two week high of $85.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business had revenue of $303.43 million during the quarter, compared to analyst estimates of $292.36 million. During the same quarter last year, the business posted $0.47 EPS. The company’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Bio-Techne will post 1.56 earnings per share for the current year.

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.