Bio-Techne Corp (TECH) Lowered to “Sell” at Zacks Investment Research
According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “
Separately, Leerink Swann began coverage on Bio-Techne Corp in a report on Thursday, November 10th. They issued an outperform rating and a $122.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $121.00.
Shares of Bio-Techne Corp (NASDAQ:TECH) traded down 0.24% during midday trading on Thursday, hitting $101.77. The stock had a trading volume of 80,193 shares. Bio-Techne Corp has a 52-week low of $79.95 and a 52-week high of $117.42. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 38.86 and a beta of 0.71. The firm’s 50 day moving average price is $105.00 and its 200 day moving average price is $107.56.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.05. Bio-Techne Corp had a return on equity of 14.40% and a net margin of 18.96%. The company had revenue of $130.60 million for the quarter, compared to analysts’ expectations of $127.47 million. During the same period in the previous year, the firm posted $0.79 EPS. Bio-Techne Corp’s revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts expect that Bio-Techne Corp will post $3.63 earnings per share for the current year.
In other news, Director Karen A. Holbrook sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $106.73, for a total transaction of $106,730.00. Following the transaction, the director now directly owns 1,973 shares in the company, valued at approximately $210,578.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC bought a new position in shares of Bio-Techne Corp during the second quarter valued at $103,000. World Asset Management Inc raised its stake in Bio-Techne Corp by 33.3% in the third quarter. World Asset Management Inc now owns 2,417 shares of the company’s stock valued at $265,000 after buying an additional 604 shares during the last quarter. Eaton Vance Management purchased a new stake in Bio-Techne Corp during the second quarter valued at approximately $283,000. Cantab Capital Partners LLP purchased a new stake in Bio-Techne Corp during the second quarter valued at approximately $620,000. Finally, Wasatch Advisors Inc. raised its stake in Bio-Techne Corp by 8.9% in the third quarter. Wasatch Advisors Inc. now owns 6,724 shares of the company’s stock valued at $736,000 after buying an additional 547 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.
Bio-Techne Corp Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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