Bio-Techne (TECH) Given Buy Rating at Leerink Swann

Leerink Swann reiterated their buy rating on shares of Bio-Techne (NASDAQ:TECH) in a research report report published on Tuesday morning.

TECH has been the topic of several other reports. Zacks Investment Research cut Bio-Techne from a buy rating to a hold rating in a report on Tuesday, August 15th. Citigroup reaffirmed a buy rating and set a $115.00 price target (down previously from $125.00) on shares of Bio-Techne in a research report on Tuesday, October 24th. Deutsche Bank set a $145.00 price target on shares of Bio-Techne and gave the company a buy rating in a research report on Tuesday, October 31st. Finally, BidaskClub raised shares of Bio-Techne from a hold rating to a buy rating in a research report on Wednesday, August 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $134.33.

Bio-Techne (NASDAQ TECH) traded down $0.14 during trading hours on Tuesday, hitting $128.76. The stock had a trading volume of 273,076 shares, compared to its average volume of 146,902. Bio-Techne has a 52-week low of $95.68 and a 52-week high of $136.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. The firm has a market cap of $4,828.88, a PE ratio of 37.15, a PEG ratio of 3.22 and a beta of 0.75.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Bio-Techne had a return on equity of 14.11% and a net margin of 12.54%. The company had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. During the same period in the previous year, the firm posted $0.84 EPS. Bio-Techne’s revenue was up 10.7% compared to the same quarter last year. equities research analysts expect that Bio-Techne will post 3.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 9th. Bio-Techne’s dividend payout ratio is currently 66.32%.

In related news, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction on 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 owns 12,712 shares in the company, valued at $1,654,848.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of TECH. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bio-Techne by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 163 shares in the last quarter. Zions Bancorporation acquired a new position in Bio-Techne in the third quarter valued at $178,000. Flinton Capital Management LLC boosted its stake in Bio-Techne by 84.8% in the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 896 shares in the last quarter. Turner Investments LLC acquired a new position in Bio-Techne in the third quarter valued at $242,000. Finally, Koch Industries Inc. acquired a new position in Bio-Techne in the second quarter valued at $286,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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Bio-Techne 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 (NASDAQ:TECH)

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