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

Bio-Techne (NASDAQ:TECH) had its price objective upped by Robert W. Baird from $82.00 to $84.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a report on Tuesday, August 13th. Royal Bank of Canada decreased their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.78.

Bio-Techne Trading Up 2.1 %

Shares of NASDAQ:TECH opened at $75.31 on Thursday. The business has a 50-day moving average price of $73.75 and a 200-day moving average price of $74.60. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 80.12, a PEG ratio of 5.33 and a beta of 1.28. Bio-Techne has a 52-week low of $52.99 and a 52-week high of $85.57. The company has a quick ratio of 2.75, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Equities analysts predict that Bio-Techne will post 1.7 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Institutional Trading of Bio-Techne

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Bio-Techne by 11.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,978 shares of the biotechnology company’s stock valued at $1,969,000 after buying an additional 2,913 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Bio-Techne by 25.7% during the first quarter. Commonwealth Equity Services LLC now owns 18,440 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 3,775 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Bio-Techne by 29.1% in the first quarter. Private Advisor Group LLC now owns 10,031 shares of the biotechnology company’s stock valued at $706,000 after purchasing an additional 2,259 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bio-Techne by 97.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,181 shares of the biotechnology company’s stock worth $9,959,000 after purchasing an additional 68,813 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Bio-Techne by 51.5% during the 1st quarter. BNP Paribas Financial Markets now owns 216,174 shares of the biotechnology company’s stock worth $15,216,000 after purchasing an additional 73,453 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

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.