Bio-Techne (NASDAQ:TECH) Rating Lowered to “Strong Sell” at Zacks Research

Bio-Techne (NASDAQ:TECH) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company cut their target price on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Citigroup cut their target price 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, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.17.

Bio-Techne Trading Up 3.3%

NASDAQ:TECH opened at $54.41 on Monday. The firm’s fifty day moving average is $52.08 and its 200-day moving average is $57.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne has a 52 week low of $43.19 and a 52 week high of $72.16. The firm has a market cap of $8.52 billion, a P/E ratio of 78.86, a P/E/G ratio of 5.03 and a beta of 1.37.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The firm had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.11 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts expect that Bio-Techne will post 1.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TECH. Goldman Sachs Group Inc. lifted its stake in shares of Bio-Techne by 12.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after buying an additional 113,634 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Bio-Techne by 40.0% in the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after buying an additional 3,814 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of 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 in the last quarter. First Trust Advisors LP lifted its stake in shares of Bio-Techne by 1,085.7% in the second quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after buying an additional 96,527 shares in the last quarter. Finally, Natixis lifted its stake in shares of Bio-Techne by 82.6% in the second quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after buying an additional 11,306 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

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.