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

Key Points

• Bio-Techne Corp has received a consensus rating of "Moderate Buy" from sixteen analysts, including one sell rating and nine buy ratings.
• The average 12-month price target for Bio-Techne stock is $70.58, with various analysts recently adjusting their price targets, reflecting an upward trend.
• The company's latest earnings report showed that Bio-Techne achieved $0.53 EPS for the quarter, surpassing analyst expectations, while revenue grew by 3.6% year-over-year.

Shares of Bio-Techne Corp (NASDAQ:TECH - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the sixteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $70.5833.

TECH has been the topic of a number of recent analyst reports. Scotiabank reduced their price target on Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 11th. Royal Bank Of Canada raised Bio-Techne from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 3rd. Evercore ISI upped their price target on Bio-Techne from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. Zacks Research raised Bio-Techne from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Finally, TD Cowen upped their price target on Bio-Techne from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th.

Bio-Techne Stock Up 1.1%

Bio-Techne stock opened at $62.54 on Tuesday. The business has a fifty day moving average of $55.55 and a two-hundred day moving average of $52.63. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.74 billion, a P/E ratio of 135.96, a P/E/G ratio of 3.94 and a beta of 1.48. Bio-Techne has a twelve month low of $46.01 and a twelve 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $316.96 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.49 earnings per share. On average, analysts forecast that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne's dividend payout ratio is presently 69.57%.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds have recently made changes to their positions in TECH. Exchange Traded Concepts LLC increased its position in shares of Bio-Techne by 21.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,803 shares of the biotechnology company's stock valued at $164,000 after acquiring an additional 490 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Bio-Techne by 4.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,210 shares of the biotechnology company's stock valued at $657,000 after acquiring an additional 490 shares during the period. State of Alaska Department of Revenue increased its position in shares of Bio-Techne by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company's stock valued at $1,086,000 after acquiring an additional 405 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Bio-Techne by 4.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 67,166 shares of the biotechnology company's stock valued at $3,938,000 after acquiring an additional 2,929 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Bio-Techne by 12.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 136,541 shares of the biotechnology company's stock valued at $8,009,000 after acquiring an additional 15,506 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

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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