Bio-Techne’s (TECH) “Buy” Rating Reiterated at Benchmark

Bio-Techne (NASDAQ:TECH)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research note issued on Thursday, Benzinga reports. They presently have a $95.00 price target on the biotechnology company’s stock. Benchmark’s price target points to a potential upside of 27.86% from the company’s current price.

TECH has been the topic of several other reports. Stephens lowered their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Scotiabank started coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Robert W. Baird increased their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

Bio-Techne Stock Performance

Shares of TECH stock traded up $0.84 during trading on Thursday, reaching $74.30. 302,668 shares of the company’s stock traded hands, compared to its average volume of 1,088,623. The company has a market capitalization of $11.68 billion, a P/E ratio of 53.53, a PEG ratio of 7.87 and a beta of 1.23. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average is $69.57 and its 200 day moving average is $68.44. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $89.91.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $303.43 million for the quarter, compared to analysts’ expectations of $292.36 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. Bio-Techne’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 EPS. Equities research analysts expect that Bio-Techne will post 1.52 EPS for the current year.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.45% of the company’s stock.

Institutional Investors Weigh In On Bio-Techne

Large investors have recently modified their holdings of the stock. Cerity Partners LLC boosted its stake in shares of Bio-Techne by 831.4% during the 4th quarter. Cerity Partners LLC now owns 46,205 shares of the biotechnology company’s stock valued at $3,565,000 after purchasing an additional 41,244 shares in the last quarter. Andra AP fonden lifted its position in Bio-Techne by 113.4% during the 3rd quarter. Andra AP fonden now owns 39,900 shares of the biotechnology company’s stock valued at $2,716,000 after acquiring an additional 21,200 shares during the period. Deutsche Bank AG lifted its position in Bio-Techne by 11.1% during the 3rd quarter. Deutsche Bank AG now owns 611,813 shares of the biotechnology company’s stock valued at $41,646,000 after acquiring an additional 61,190 shares during the period. Nordea Investment Management AB lifted its position in Bio-Techne by 7.8% during the 4th quarter. Nordea Investment Management AB now owns 10,494 shares of the biotechnology company’s stock valued at $815,000 after acquiring an additional 761 shares during the period. Finally, Diversified Trust Co lifted its position in Bio-Techne by 32.6% during the 3rd quarter. Diversified Trust Co now owns 12,826 shares of the biotechnology company’s stock valued at $873,000 after acquiring an additional 3,156 shares during the period. 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.