Bio-Techne (NASDAQ:TECH) Reaches New 12-Month High - Should You Buy?

Key Points

• Bio-Techne shares reached a new 52-week high of $72.37 and were recently trading near $72.25, modestly below the prior close.
• Analyst sentiment remains cautious: the stock has an average rating of “Hold”, with 13 Hold, three Buy and one Sell ratings, and an average price target of $68.08—below its current price.
• Bio-Techne has strong liquidity and low leverage, but trades at a high valuation with a P/E ratio above 104; institutional investors own approximately 98.95% of the shares.

Bio-Techne Corp (NASDAQ:TECH - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $72.37 and last traded at $72.2540, with a volume of 360 shares trading hands. The stock had previously closed at $72.29.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stephens set a $73.00 target price on Bio-Techne and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered shares of Bio-Techne from a "buy" rating to a "hold" rating and set a $73.00 price target on the stock. in a research note on Friday, June 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bio-Techne in a report on Tuesday, August 4th. Robert W. Baird increased their price objective on shares of Bio-Techne from $49.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Bio-Techne from $76.00 to $62.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $68.08.

Bio-Techne Trading Down 0.1%

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The business's 50-day moving average is $65.31 and its two-hundred day moving average is $59.15. The firm has a market cap of $11.31 billion, a P/E ratio of 104.68, a P/E/G ratio of 8.61 and a beta of 1.28.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds have recently modified their holdings of the stock. Danske Bank A S acquired a new position in Bio-Techne during the fourth quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $33,000. Avalon Trust Co bought a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $42,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Bio-Techne during the 4th quarter worth approximately $39,000. Institutional investors own 98.95% of the company's stock.

Bio-Techne Company Profile

Bio-Techne Corporation NASDAQ: TECH is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.

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