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.
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.
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