Bio-Techne Corp (NASDAQ:TECH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $136.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.20% from the company’s previous close.
According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “
Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Deutsche Bank AG upped their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $128.75.
Shares of Bio-Techne Corp (NASDAQ TECH) traded up 0.51% during mid-day trading on Wednesday, reaching $122.92. 41,484 shares of the company traded hands. The stock’s 50 day moving average is $121.47 and its 200 day moving average is $113.95. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $124.00. The stock has a market capitalization of $4.60 billion, a PE ratio of 60.55 and a beta of 0.76.
Bio-Techne Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The business had revenue of $156.60 million for the quarter, compared to analyst estimates of $150.25 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, analysts anticipate that Bio-Techne Corp will post $3.99 earnings per share for the current year.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the transaction, the director now directly owns 914 shares in the company, valued at approximately $111,261.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,259 shares of company stock worth $152,436. Corporate insiders own 3.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Bio-Techne Corp by 22.5% during the 1st quarter. Bank of America Corp DE now owns 249,413 shares of the biotechnology company’s stock valued at $25,353,000 after purchasing an additional 45,852 shares during the period. Eagle Asset Management Inc. lifted its position in Bio-Techne Corp by 5.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 49,945 shares of the biotechnology company’s stock valued at $5,868,000 after purchasing an additional 2,371 shares during the period. Vanguard Group Inc. lifted its position in Bio-Techne Corp by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 3,005,690 shares of the biotechnology company’s stock valued at $305,528,000 after purchasing an additional 134,138 shares during the period. American Century Companies Inc. lifted its position in Bio-Techne Corp by 174.8% during the 2nd quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock valued at $85,962,000 after purchasing an additional 465,398 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Bio-Techne Corp by 55.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 48,208 shares of the biotechnology company’s stock valued at $5,664,000 after purchasing an additional 17,158 shares during the period. Institutional investors own 98.40% of the company’s stock.
Bio-Techne Corp Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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