Bio-Techne Corp (NASDAQ:TECH) Stock Has Consensus Price Target of $68.92

Shares of Bio-Techne Corp (NASDAQ:TECH) have received an average rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Fifteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $68.92.

A number of brokerages recently weighed in on TECH. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Benchmark restated a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. Wells Fargo & Company cut shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $62.00 to $73.00 in a report on Thursday, August 13th. William Blair cut shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Finally, TD Cowen downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 29th.

Hedge Funds Weigh In On Bio-Techne

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tema ETFs LLC boosted its position in shares of Bio-Techne by 5.4% in the 2nd quarter. Tema ETFs LLC now owns 2,818 shares of the biotechnology company’s stock worth $199,000 after buying an additional 145 shares in the last quarter. Empirical Finance LLC grew its stake in Bio-Techne by 4.4% in the 2nd quarter. Empirical Finance LLC now owns 4,478 shares of the biotechnology company’s stock valued at $316,000 after acquiring an additional 189 shares during the last quarter. Bryn Mawr Trust Advisors LLC increased its holdings in Bio-Techne by 5.1% during the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 3,986 shares of the biotechnology company’s stock valued at $208,000 after acquiring an additional 194 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Bio-Techne by 0.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,445 shares of the biotechnology company’s stock valued at $1,905,000 after acquiring an additional 202 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Bio-Techne by 13.2% during the first quarter. Parallel Advisors LLC now owns 1,936 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 225 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.46 on Tuesday. The stock has a market cap of $11.36 billion, a P/E ratio of 63.01, a P/E/G ratio of 8.77 and a beta of 1.30. Bio-Techne has a twelve month low of $43.19 and a twelve month high of $72.69. The stock has a 50 day moving average of $72.34 and a two-hundred day moving average of $63.10. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. On average, research analysts forecast that Bio-Techne will post 1.73 earnings per share for the current year.

Bio-Techne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 24th were given a $0.65 dividend. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date was Monday, August 24th. This represents a $2.60 annualized dividend and a yield of 3.6%. Bio-Techne’s payout ratio is presently 27.83%.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research, diagnostic and bioprocessing products for the biotechnology and pharmaceutical industries, academic institutions, clinical laboratories and other healthcare organizations. Its portfolio supports research in areas such as cancer, immunology, neuroscience, cell biology and precision medicine.

The company provides proteins, antibodies, immunoassays, reagents, gene and cell therapy materials, and analytical instruments.