Bio-Techne Corp (NASDAQ:TECH) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Bio-Techne Corp (NASDAQ:TECH) has received a consensus recommendation of “Moderate Buy” from analysts, with an average 12-month price target of $70.42.
• The company recently declared a quarterly dividend of $0.08 per share, indicating a 0.6% yield and a payout ratio of 69.57%.
• Bio-Techne reported fiscal quarterly earnings of $0.53 per share, surpassing estimates and showcasing a year-over-year revenue increase of 3.6%.

Shares of Bio-Techne Corp (NASDAQ:TECH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $70.4167.

Several equities research analysts have recently weighed in on the company. TD Cowen began coverage on Bio-Techne in a research note on Wednesday, July 9th. They issued a "buy" rating and a $65.00 price target for the company. Wells Fargo & Company began coverage on Bio-Techne in a report on Friday, May 30th. They set an "overweight" rating and a $59.00 price target on the stock. Wall Street Zen cut Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. Scotiabank cut their price target on Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a report on Friday, July 11th. Finally, Citigroup upgraded Bio-Techne from a "neutral" rating to a "buy" rating and increased their price target for the stock from $55.00 to $70.00 in a report on Thursday, August 21st.

Bio-Techne Price Performance

Shares of TECH opened at $50.48 on Friday. The stock has a market cap of $7.86 billion, a PE ratio of 109.74, a PEG ratio of 3.27 and a beta of 1.47. The business has a 50-day simple moving average of $53.80 and a two-hundred day simple moving average of $52.73. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne has a 12-month low of $46.01 and a 12-month high of $80.80.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $316.96 million during the quarter, compared to analysts' expectations of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Analysts anticipate that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.08 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.32 annualized dividend and a yield of 0.6%. Bio-Techne's dividend payout ratio is presently 69.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional bought a new position in shares of Bio-Techne in the first quarter valued at approximately $27,000. Allworth Financial LP increased its position in shares of Bio-Techne by 68.1% during the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 248 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Bio-Techne during the first quarter valued at approximately $34,000. EverSource Wealth Advisors LLC increased its position in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 562 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Bio-Techne during the first quarter valued at approximately $41,000. Institutional investors own 98.95% of the company's stock.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.

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