BIO-TECHNE Corp (NASDAQ:TECH) has earned an average recommendation of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $182.14.
A number of brokerages have issued reports on TECH. Argus reiterated a “buy” rating on shares of BIO-TECHNE in a report on Monday, March 4th. ValuEngine upgraded shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Craig Hallum reiterated a “hold” rating and issued a $179.00 price target (up from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Stephens upgraded shares of BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a report on Monday, January 14th.
NASDAQ TECH traded down $8.10 on Thursday, reaching $192.34. The company had a trading volume of 193,460 shares, compared to its average volume of 141,375. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.31 and a current ratio of 4.35. The company has a market cap of $7.26 billion, a P/E ratio of 47.26, a P/E/G ratio of 4.35 and a beta of 1.25. BIO-TECHNE has a 12 month low of $132.75 and a 12 month high of $206.04.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The company had revenue of $174.50 million for the quarter, compared to the consensus estimate of $171.39 million. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. BIO-TECHNE’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 EPS. As a group, analysts forecast that BIO-TECHNE will post 3.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were issued a $0.32 dividend. The ex-dividend date was Thursday, February 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.67%. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in BIO-TECHNE by 331.1% during the 4th quarter. American Century Companies Inc. now owns 156,965 shares of the biotechnology company’s stock valued at $22,716,000 after purchasing an additional 120,557 shares during the last quarter. Geode Capital Management LLC grew its holdings in BIO-TECHNE by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock valued at $60,275,000 after purchasing an additional 27,587 shares during the last quarter. Norges Bank purchased a new stake in BIO-TECHNE in the 4th quarter valued at about $70,995,000. Actinver Wealth Management Inc. purchased a new stake in BIO-TECHNE in the 4th quarter valued at about $537,000. Finally, Executive Wealth Management LLC purchased a new stake in BIO-TECHNE in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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