Bio-Techne Corp (TECH) Upgraded to Buy at Zacks Investment Research

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.

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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.

Analyst Recommendations for Bio-Techne Corp (NASDAQ:TECH)

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