Analysts Set Bio-Techne Corp (NASDAQ:TECH) Target Price at $70.92

Bio-Techne Corp (NASDAQ:TECH) has been given an average recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $71.00.

TECH has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $72.00 price target on shares of Bio-Techne and gave the stock a “buy” rating in a research report on Friday. Evercore ISI set a $68.00 price objective on Bio-Techne in a research report on Thursday, November 6th. Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research report on Tuesday, October 14th. Finally, TD Cowen increased their target price on Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $57.44 on Wednesday. The stock has a market capitalization of $8.95 billion, a P/E ratio of 117.23, a PEG ratio of 3.83 and a beta of 1.46. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $61.22 and its 200 day moving average price is $56.06. Bio-Techne has a twelve month low of $46.01 and a twelve month high of $79.28.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $286.56 million for the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, research analysts anticipate that Bio-Techne will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.08 dividend. The ex-dividend date was Monday, November 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Bio-Techne’s dividend payout ratio is 65.31%.

Hedge Funds Weigh In On Bio-Techne

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Bio-Techne by 109.7% during the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 237 shares during the last quarter. Allworth Financial LP increased its holdings in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne in the 3rd quarter valued at approximately $32,000. iSAM Funds UK Ltd purchased a new position in shares of Bio-Techne during the 3rd quarter valued at approximately $33,000. Finally, AlphaQuest LLC bought a new stake in shares of Bio-Techne in the first quarter worth $34,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

About Bio-Techne

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.