BIO-TECHNE Corp (NASDAQ:TECH) has been given an average rating of “Buy” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $182.14.
TECH has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Thursday, December 27th. Stephens raised BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 price target for the company in a report on Monday, January 14th. BidaskClub raised BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Craig Hallum reissued a “hold” rating and issued a $179.00 target price (up from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. Finally, ValuEngine raised BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th.
NASDAQ TECH traded up $0.44 during trading on Monday, reaching $189.16. 490,834 shares of the company’s stock were exchanged, compared to its average volume of 201,477. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 46.48, a price-to-earnings-growth ratio of 4.54 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.35 and a quick ratio of 3.31. BIO-TECHNE has a 1 year low of $132.75 and a 1 year 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, topping the Zacks’ consensus estimate of $0.98 by $0.08. The company had revenue of $174.50 million during the quarter, compared to the consensus estimate of $171.39 million. BIO-TECHNE had a return on equity of 13.90% and a net margin of 14.02%. BIO-TECHNE’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. As a group, equities research analysts expect that BIO-TECHNE will post 3.68 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of TECH. Executive Wealth Management LLC purchased a new stake in shares of BIO-TECHNE in the 4th quarter valued at about $38,000. First Hawaiian Bank lifted its holdings in shares of BIO-TECHNE by 59.9% in the 1st quarter. First Hawaiian Bank now owns 219 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 82 shares during the last quarter. Portfolio Solutions LLC purchased a new stake in shares of BIO-TECHNE in the 4th quarter valued at about $50,000. Financial Gravity Wealth Inc. acquired a new position in BIO-TECHNE in the 1st quarter valued at about $54,000. Finally, We Are One Seven LLC acquired a new position in BIO-TECHNE in the 4th quarter valued at about $121,000. 93.94% of the stock is owned by institutional investors and hedge funds.
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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