Bio-Techne Corp (TECH) Lifted to “Hold” at BidaskClub
Bio-Techne Corp (NASDAQ:TECH) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Deutsche Bank AG increased their price objective on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup Inc. reiterated a “buy” rating and set a $125.00 price objective (up from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. Wells Fargo & Company assumed coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating on the stock. Finally, TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $125.20.
Bio-Techne Corp (NASDAQ TECH) opened at 117.54 on Friday. The company has a market cap of $4.39 billion, a PE ratio of 57.06 and a beta of 0.79. The firm has a 50-day moving average price of $116.63 and a 200-day moving average price of $108.89. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $121.94.
Bio-Techne Corp (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a return on equity of 14.18% and a net margin of 12.93%. The firm had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter last year, the firm posted $0.92 EPS. The company’s revenue was up 16.2% compared to the same quarter last year. On average, analysts forecast that Bio-Techne Corp will post $3.98 EPS for the current year.
In other news, Director Charles A. Dinarello sold 5,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total transaction of $556,850.00. Following the transaction, the director now directly owns 12,473 shares in the company, valued at approximately $1,389,118.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 10,200 shares of company stock worth $1,135,648 over the last quarter. Corporate insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Israel Discount Bank of New York bought a new position in Bio-Techne Corp during the first quarter valued at about $105,000. Flinton Capital Management LLC raised its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 96 shares during the last quarter. Meadow Creek Investment Management LLC raised its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock valued at $148,000 after buying an additional 132 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bio-Techne Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 163 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 97.79% 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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