Bio-Techne (NASDAQ:TECH) Earns Buy Rating from Analysts at TD Cowen

Analysts at TD Cowen initiated coverage on shares of Bio-Techne (NASDAQ:TECH - Get Free Report) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set a "buy" rating and a $65.00 price target on the biotechnology company's stock. TD Cowen's price objective would indicate a potential upside of 23.39% from the company's previous close.

Several other research analysts have also commented on TECH. Evercore ISI started coverage on shares of Bio-Techne in a research note on Tuesday, March 18th. They set an "outperform" rating and a $75.00 price objective for the company. Wall Street Zen lowered shares of Bio-Techne from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Stifel Nicolaus reduced their target price on shares of Bio-Techne from $75.00 to $60.00 and set a "hold" rating on the stock in a report on Thursday, May 8th. Royal Bank Of Canada lowered their price objective on shares of Bio-Techne from $72.00 to $63.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, Benchmark reiterated a "buy" rating and issued a $75.00 price objective on shares of Bio-Techne in a research note on Thursday, June 5th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Bio-Techne presently has a consensus rating of "Hold" and a consensus target price of $71.36.

Bio-Techne Stock Up 2.2%

TECH opened at $52.68 on Wednesday. The firm has a market capitalization of $8.26 billion, a P/E ratio of 64.24, a PEG ratio of 2.45 and a beta of 1.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.71 and a quick ratio of 2.58. Bio-Techne has a fifty-two week low of $46.01 and a fifty-two week high of $83.62. The company's 50-day moving average is $50.01 and its 200 day moving average is $59.33.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. Bio-Techne had a net margin of 10.89% and a return on equity of 13.17%. The company had revenue of $316.18 million during the quarter, compared to analysts' expectations of $317.92 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm's revenue was up 4.2% on a year-over-year basis. Research analysts expect that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Bio-Techne declared that its board has authorized a share repurchase program on Wednesday, May 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the biotechnology company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Bio-Techne

Hedge funds and other institutional investors have recently modified their holdings of the business. CX Institutional purchased a new position in shares of Bio-Techne in the 1st quarter valued at $27,000. AlphaQuest LLC purchased a new position in shares of Bio-Techne in the first quarter worth about $34,000. Itau Unibanco Holding S.A. acquired a new stake in Bio-Techne during the fourth quarter worth about $41,000. Federated Hermes Inc. acquired a new stake in shares of Bio-Techne during the first quarter valued at about $41,000. Finally, GeoWealth Management LLC acquired a new position in shares of Bio-Techne in the fourth quarter valued at approximately $43,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

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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