Bio-Techne (NASDAQ:TECH) Upgraded by Royal Bank Of Canada to “Moderate Buy” Rating

Royal Bank Of Canada upgraded shares of Bio-Techne (NASDAQ:TECH) to a moderate buy rating in a research report report published on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. UBS Group reaffirmed a “buy” rating and set a $79.00 price objective (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Evercore set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Finally, Citigroup decreased their price objective on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $65.92.

Bio-Techne Stock Performance

NASDAQ TECH opened at $43.30 on Thursday. The stock has a market cap of $6.78 billion, a P/E ratio of 62.75, a PEG ratio of 3.38 and a beta of 1.41. The company’s 50-day simple moving average is $52.99 and its 200 day simple moving average is $58.80. Bio-Techne has a twelve month low of $43.19 and a twelve month high of $72.16. 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 posted its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. As a group, research analysts forecast that Bio-Techne will post 1.72 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

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

Hedge Funds Weigh In On Bio-Techne

Large investors have recently bought and sold shares of the business. Danske Bank A S acquired a new position in Bio-Techne in the fourth quarter valued at approximately $29,000. eCIO Inc. acquired a new position in Bio-Techne in the fourth quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in Bio-Techne in the third quarter valued at approximately $32,000. iSAM Funds UK Ltd acquired a new position in Bio-Techne in the third quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 562 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Company Profile

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.