Bio-Techne (NASDAQ:TECH) PT Raised to $81.00

Bio-Techne (NASDAQ:TECH) had its target price hoisted by equities research analysts at Robert W. Baird from $73.00 to $81.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 10.26% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Scotiabank began coverage on Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target for the company. Stifel Nicolaus cut Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Friday, February 2nd. Royal Bank of Canada lowered their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Stephens lowered their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Bio-Techne Price Performance

Bio-Techne stock opened at $73.46 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $89.91. The stock has a market capitalization of $11.55 billion, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 7.87 and a beta of 1.23. The stock has a fifty day moving average of $69.57 and a 200-day moving average of $68.44.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Thursday, February 1st. The biotechnology company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. The business had revenue of $272.60 million for the quarter, compared to analyst estimates of $277.48 million. On average, sell-side analysts expect that Bio-Techne will post 1.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the transaction, the director now directly owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.45% of the company’s stock.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bio-Techne during the third quarter valued at about $27,000. CVA Family Office LLC purchased a new stake in Bio-Techne during the fourth quarter valued at about $31,000. Mather Group LLC. purchased a new stake in Bio-Techne during the first quarter valued at about $38,000. First Horizon Advisors Inc. raised its position in Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 191 shares in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in Bio-Techne during the first quarter valued at about $43,000. Institutional investors own 98.95% of the company’s stock.

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.