Bio-Techne's (TECH) Sell (D+) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D+)" rating for Bio-Techne (NASDAQ: TECH) in a recent report, signaling ongoing concerns about the stock's performance.
• After a recent upgrade from Citigroup, Bio-Techne's stock target price has been raised from $55.00 to $70.00, as analysts show a generally positive outlook with an average rating of "Moderate Buy."
• Bio-Techne reported a quarterly earnings per share of $0.53, beating estimates, alongside a 3.6% revenue increase compared to the same quarter last year.

Bio-Techne (NASDAQ:TECH - Get Free Report)'s stock had its "sell (d+)" rating reissued by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently commented on TECH. Citigroup upgraded shares of Bio-Techne from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $55.00 to $70.00 in a research note on Thursday, August 21st. Zacks Research upgraded shares of Bio-Techne from a "strong sell" rating to a "hold" rating in a report on Monday. TD Cowen started coverage on shares of Bio-Techne in a research note on Wednesday, July 9th. They issued a "buy" rating and a $65.00 target price on the stock. Royal Bank Of Canada raised shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 3rd. Finally, Evercore ISI upped their price target on shares of Bio-Techne from $60.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.17.

Bio-Techne Stock Up 2.3%

Shares of TECH stock traded up $1.37 during trading hours on Wednesday, hitting $60.56. 2,095,149 shares of the company's stock traded hands, compared to its average volume of 2,142,662. The stock's fifty day simple moving average is $54.23 and its two-hundred day simple moving average is $52.52. Bio-Techne has a 12-month low of $46.01 and a 12-month high of $80.80. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 131.66, a PEG ratio of 3.95 and a beta of 1.48. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18.

Bio-Techne (NASDAQ:TECH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share 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 company had revenue of $316.96 million during the quarter, compared to the consensus estimate of $315.14 million. During the same quarter last year, the firm earned $0.49 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Bio-Techne will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TECH. Harbor Capital Advisors Inc. purchased a new position in shares of Bio-Techne during the first quarter worth $2,889,000. SG Americas Securities LLC grew its position in Bio-Techne by 602.1% during the first quarter. SG Americas Securities LLC now owns 49,154 shares of the biotechnology company's stock valued at $2,882,000 after buying an additional 42,153 shares during the period. Assenagon Asset Management S.A. grew its position in Bio-Techne by 20.9% during the first quarter. Assenagon Asset Management S.A. now owns 52,339 shares of the biotechnology company's stock valued at $3,069,000 after buying an additional 9,041 shares during the period. CX Institutional acquired a new stake in Bio-Techne during the first quarter valued at $27,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in Bio-Techne by 31.4% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 333,784 shares of the biotechnology company's stock valued at $19,570,000 after buying an additional 79,750 shares during the period. Hedge funds and other institutional investors 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.

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