Bio-Techne (NASDAQ:TECH) Given Sell (D+) Rating at Weiss Ratings

Key Points

• Bio-Techne's stock is currently rated as a "sell (D+)" by Weiss Ratings, indicating a bearish outlook from analysts.
• Several analysts have varying ratings on Bio-Techne, with target prices ranging from $70 to $75, suggesting a consensus rating of "Moderate Buy."
• Bio-Techne's shares experienced a minor decline of 0.2%, closing at $65.90, with a market capitalization of $10.26 billion.

Bio-Techne (NASDAQ:TECH - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other research analysts have also commented on TECH. Scotiabank lowered their price objective on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Friday, July 11th. Evercore ISI raised their target price on shares of Bio-Techne from $60.00 to $72.00 and gave the company an "outperform" rating in a report on Tuesday, October 7th. Royal Bank Of Canada raised shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Cowen reaffirmed a "buy" rating on shares of Bio-Techne in a report on Tuesday, October 14th. Finally, TD Cowen raised their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.58.

Bio-Techne Stock Down 0.2%

Shares of NASDAQ TECH traded down $0.16 during midday trading on Friday, hitting $65.90. The company's stock had a trading volume of 1,806,811 shares, compared to its average volume of 2,119,210. The business's fifty day simple moving average is $56.20 and its two-hundred day simple moving average is $52.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. Bio-Techne has a 1 year low of $46.01 and a 1 year high of $80.80. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 143.26, a price-to-earnings-growth ratio of 3.73 and a beta of 1.48.

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

Institutional Trading of Bio-Techne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bio-Techne by 17.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,630 shares of the biotechnology company's stock worth $1,153,000 after purchasing an additional 2,980 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Bio-Techne during the first quarter worth approximately $1,362,000. Park Avenue Securities LLC purchased a new position in shares of Bio-Techne during the second quarter worth approximately $270,000. Public Employees Retirement System of Ohio grew its position in shares of Bio-Techne by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 49,542 shares of the biotechnology company's stock worth $2,549,000 after acquiring an additional 457 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Bio-Techne by 0.7% during the first quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company's stock worth $1,797,000 after acquiring an additional 222 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.