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 to clients and investors on Saturday. The brokerage presently has a $143.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.60% 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. “

A number of other analysts have also weighed in on TECH. Deutsche Bank AG upped their price objective on Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company began coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating on the stock. Finally, Citigroup Inc reaffirmed a “buy” rating and set a $115.00 price objective (down previously from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Bio-Techne Corp presently has a consensus rating of “Buy” and an average price target of $131.25.

Shares of Bio-Techne Corp (NASDAQ:TECH) opened at $129.29 on Friday. The stock has a market cap of $4,786.33, a PE ratio of 36.89, a P/E/G ratio of 3.22 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.12.

Bio-Techne Corp (NASDAQ:TECH) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The company had revenue of $144.61 million for the quarter, compared to analyst estimates of $142.37 million. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. analysts anticipate that Bio-Techne Corp will post 3.73 earnings per share for the current fiscal year.

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In other Bio-Techne Corp news, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the transaction, the director now directly owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen A. Holbrook sold 1,059 shares of the business’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 of the company’s stock, valued at $111,261.22. The disclosure for this sale can be found here. Insiders sold a total of 6,359 shares of company stock valued at $815,532 over the last ninety days. Company insiders own 3.40% of the company’s stock.

Several large investors have recently modified their holdings of TECH. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Bio-Techne Corp by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 163 shares in the last quarter. Underhill Investment Management LLC bought a new stake in shares of Bio-Techne Corp in the 2nd quarter worth approximately $223,000. Flinton Capital Management LLC raised its holdings in shares of Bio-Techne Corp by 84.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 896 shares in the last quarter. LS Investment Advisors LLC raised its holdings in shares of Bio-Techne Corp by 22.0% in the 2nd quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock worth $245,000 after purchasing an additional 377 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Bio-Techne Corp by 6.0% in the 2nd quarter. Huntington National Bank now owns 2,138 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 121 shares in the last quarter. 98.70% of the stock is owned by institutional investors.

About Bio-Techne Corp

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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