Bio-Techne Corp (NASDAQ:TECH - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $58.88, but opened at $70.23. Bio-Techne shares last traded at $70.2570, with a volume of 17,111,436 shares changing hands.
Key Stories Impacting Bio-Techne
Here are the key news stories impacting Bio-Techne this week:
- Positive Sentiment: Merck KGaA will acquire Bio-Techne for $73 per share in cash, valuing the company at about $11.3 billion and implying a sizable premium to recent trading levels. Article Title
- Positive Sentiment: The deal gives investors a clear takeover price anchor, which typically pulls shares toward the offer price and boosts sentiment around the stock. Article Title
- Neutral Sentiment: The transaction is expected to close in late 2026 or early 2027, subject to shareholder and regulatory approvals, so there is still execution risk before shareholders receive cash. Article Title
- Negative Sentiment: Law firms have already launched shareholder investigations into whether Bio-Techne’s board obtained a fair price, highlighting potential deal-related legal scrutiny and uncertainty. Article Title
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on TECH shares. Wells Fargo & Company cut their price objective on Bio-Techne from $76.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. TD Cowen reaffirmed a "buy" rating on shares of Bio-Techne in a research report on Tuesday. Evercore set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada set a $62.00 price target on Bio-Techne and gave the stock an "outperform" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bio-Techne currently has an average rating of "Moderate Buy" and an average price target of $65.15.
Check Out Our Latest Report on Bio-Techne
Bio-Techne Stock Performance
The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.04 billion, a PE ratio of 102.15, a PEG ratio of 5.42 and a beta of 1.37. The firm's 50-day simple moving average is $52.46 and its two-hundred day simple moving average is $56.93.
Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. Bio-Techne's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share. On average, equities research analysts expect that Bio-Techne Corp will post 1.66 earnings per share for the current fiscal year.
Bio-Techne Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, May 18th. Bio-Techne's dividend payout ratio is currently 46.38%.
Institutional Investors Weigh In On Bio-Techne
A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Bio-Techne by 349.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company's stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Bio-Techne by 164.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company's stock worth $235,994,000 after purchasing an additional 2,495,328 shares during the period. Ruane Cunniff & Goldfarb L.P. boosted its holdings in shares of Bio-Techne by 131.4% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company's stock worth $177,266,000 after purchasing an additional 1,926,066 shares during the period. Norges Bank purchased a new position in Bio-Techne during the fourth quarter valued at approximately $99,494,000. Finally, Durable Capital Partners LP purchased a new position in Bio-Techne during the third quarter valued at approximately $77,658,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.
About Bio-Techne
(
Get Free Report)
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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