Equities researchers at Goldman Sachs Group assumed coverage on shares of BIO-TECHNE (NASDAQ:TECH) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set a “neutral” rating and a $190.00 price target on the biotechnology company’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 3.68% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of BIO-TECHNE from a “strong sell” rating to a “hold” rating in a report on Saturday, August 25th. ValuEngine raised shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Craig Hallum lifted their price objective on shares of BIO-TECHNE from $160.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. BidaskClub raised shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 28th. Finally, Robert W. Baird lifted their price objective on shares of BIO-TECHNE from $162.00 to $191.00 and gave the stock a “positive” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $191.75.

Shares of NASDAQ:TECH opened at $183.25 on Wednesday. The company has a quick ratio of 3.93, a current ratio of 5.01 and a debt-to-equity ratio of 0.31. BIO-TECHNE has a one year low of $121.26 and a one year high of $206.04. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 3.10 and a beta of 0.87.

BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.05. BIO-TECHNE had a net margin of 19.50% and a return on equity of 14.64%. The firm had revenue of $180.25 million during the quarter, compared to the consensus estimate of $176.24 million. On average, equities analysts expect that BIO-TECHNE will post 3.93 earnings per share for the current fiscal year.

In other news, Director John L. Higgins sold 10,000 shares of BIO-TECHNE stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $187.92, for a total transaction of $1,879,200.00. Following the completion of the sale, the director now directly owns 13,012 shares of the company’s stock, valued at approximately $2,445,215.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles A. Dinarello sold 5,000 shares of BIO-TECHNE stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total transaction of $884,700.00. Following the sale, the director now directly owns 13,212 shares of the company’s stock, valued at $2,337,731.28. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TECH. Schroder Investment Management Group lifted its holdings in shares of BIO-TECHNE by 975.1% during the 2nd quarter. Schroder Investment Management Group now owns 2,211,502 shares of the biotechnology company’s stock worth $85,499,000 after acquiring an additional 2,005,804 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in BIO-TECHNE by 1,286,672.2% in the second quarter. Advisors Asset Management Inc. now owns 231,619 shares of the biotechnology company’s stock worth $1,112,000 after purchasing an additional 231,601 shares during the last quarter. BTIM Corp. bought a new stake in BIO-TECHNE in the second quarter worth $22,879,000. OppenheimerFunds Inc. lifted its stake in BIO-TECHNE by 98.2% in the second quarter. OppenheimerFunds Inc. now owns 303,344 shares of the biotechnology company’s stock worth $44,879,000 after purchasing an additional 150,256 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in BIO-TECHNE by 29.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 598,005 shares of the biotechnology company’s stock worth $88,475,000 after purchasing an additional 134,771 shares during the last quarter. 93.98% of the stock is owned by institutional investors.

BIO-TECHNE Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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Analyst Recommendations for BIO-TECHNE (NASDAQ:TECH)

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