Bio-Techne Corp (NASDAQ:TECH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Bio-Techne Corp (NASDAQ:TECH) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $65.9231.

Several analysts recently weighed in on the company. Citigroup decreased their target price on Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. Robert W. Baird set a $49.00 target price on Bio-Techne in a research note on Thursday, May 7th. UBS Group restated a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th.

Hedge Funds Weigh In On Bio-Techne

Large investors have recently added to or reduced their stakes in the company. Impax Asset Management Group plc acquired a new position in Bio-Techne in the 4th quarter valued at approximately $11,468,000. Caprock Group LLC acquired a new position in Bio-Techne in the 3rd quarter valued at approximately $1,710,000. Madison Asset Management LLC acquired a new position in Bio-Techne in the 3rd quarter valued at approximately $41,425,000. Hollow Brook Wealth Management LLC raised its holdings in Bio-Techne by 69.7% in the 3rd quarter. Hollow Brook Wealth Management LLC now owns 174,677 shares of the biotechnology company’s stock valued at $9,717,000 after acquiring an additional 71,739 shares in the last quarter. Finally, Pembroke Management LTD raised its holdings in Bio-Techne by 10.9% in the 3rd quarter. Pembroke Management LTD now owns 376,977 shares of the biotechnology company’s stock valued at $20,971,000 after acquiring an additional 37,189 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $43.30 on Friday. The business has a 50 day moving average price of $52.99 and a 200 day moving average price of $58.80. Bio-Techne has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 3.38 and a beta of 1.41. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same quarter in the previous year, the company earned $0.56 EPS. Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts predict that Bio-Techne will post 1.72 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.7%. Bio-Techne’s dividend payout ratio is 46.38%.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.