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.
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