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

Key Points

• Bio-Techne Corp has received a consensus rating of “Moderate Buy” from analysts, with an average price target of $69.42.
• The company reported earnings of $0.53 per share for the last quarter, surpassing expectations with a revenue of $316.96 million.
• Bio-Techne recently approved a $500 million share repurchase plan, indicating a belief that its stock is undervalued.

Bio-Techne Corp (NASDAQ:TECH - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $70.4167.

Several research analysts have recently commented on TECH shares. TD Cowen started coverage on Bio-Techne in a research report on Wednesday, July 9th. They issued a "buy" rating and a $65.00 price target for the company. Stifel Nicolaus reduced their price target on Bio-Techne from $75.00 to $60.00 and set a "hold" rating for the company in a research report on Thursday, May 8th. Benchmark reissued a "buy" rating and issued a $75.00 price target on shares of Bio-Techne in a research report on Thursday, June 5th. Wells Fargo & Company started coverage on Bio-Techne in a research report on Friday, May 30th. They issued an "overweight" rating and a $59.00 price target for the company. Finally, UBS Group reduced their price target on Bio-Techne from $95.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TECH. CX Institutional acquired a new position in Bio-Techne during the 1st quarter valued at about $27,000. Allworth Financial LP increased its position in Bio-Techne by 68.1% during the 2nd quarter. Allworth Financial LP now owns 612 shares of the biotechnology company's stock valued at $31,000 after buying an additional 248 shares in the last quarter. AlphaQuest LLC acquired a new position in Bio-Techne during the 1st quarter valued at about $34,000. EverSource Wealth Advisors LLC increased its position in Bio-Techne by 506.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock valued at $35,000 after buying an additional 562 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Bio-Techne during the 1st quarter valued at about $41,000. 98.95% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Stock Up 2.8%

NASDAQ TECH traded up $1.49 on Monday, reaching $54.41. 1,745,308 shares of the stock traded hands, compared to its average volume of 1,832,320. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The company has a fifty day moving average price of $53.90 and a 200-day moving average price of $53.79. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 118.29, a PEG ratio of 3.37 and a beta of 1.47. Bio-Techne has a 12 month low of $46.01 and a 12 month high of $80.95.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $316.96 million during the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. As a group, research analysts forecast that Bio-Techne will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne's dividend payout ratio is currently 69.57%.

About Bio-Techne

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.