Bio-Techne Corp (NASDAQ:TECH) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus: Fifteen of 17 brokerages rate Bio-Techne neutral, while two recommend buying. The average 12-month price target is $68.92, below the stock’s reported $72.08 opening price.
• Bio-Techne matched quarterly earnings expectations at $0.52 per share and exceeded revenue estimates with $321.19 million, up 1.3% year over year.
• The company declared a quarterly dividend of $0.65 per share, representing an annualized dividend of $2.60 and a 3.6% yield; institutional investors own 98.95% of outstanding shares.

Shares of Bio-Techne Corp (NASDAQ:TECH - Get Free Report) have received an average recommendation of "Hold" from the seventeen brokerages that are presently covering the stock, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $68.9231.

TECH has been the topic of a number of recent research reports. Stephens set a $73.00 price objective on Bio-Techne and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Piper Sandler initiated coverage on Bio-Techne in a research report on Thursday, June 11th. They set a "neutral" rating and a $65.00 target price for the company. Weiss Ratings raised Bio-Techne from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Benchmark restated a "hold" rating on shares of Bio-Techne in a research report on Wednesday, August 19th. Finally, Leerink Partners set a $73.00 price target on Bio-Techne in a research note on Thursday, June 25th.

Bio-Techne Stock Down 0.2%

Shares of TECH stock opened at $72.08 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The firm's 50-day moving average is $71.96 and its 200-day moving average is $60.49. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 62.68, a PEG ratio of 8.60 and a beta of 1.28. Bio-Techne has a 52-week low of $43.19 and a 52-week high of $72.62.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company had revenue of $321.19 million during the quarter, compared to the consensus estimate of $314.63 million. During the same period in the previous year, the company posted $0.53 EPS. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Bio-Techne will post 1.76 EPS for the current year.

Bio-Techne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were issued a dividend of $0.65 per share. This is an increase from Bio-Techne's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Bio-Techne's payout ratio is presently 27.83%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TECH. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne in the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne during the third quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company's stock worth $35,000 after buying an additional 562 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Bio-Techne during the first quarter worth $37,000. Finally, Los Angeles Capital Management LLC bought a new position in Bio-Techne during the fourth quarter worth $39,000. 98.95% of the stock is currently owned by institutional investors.

About Bio-Techne

Bio-Techne Corporation NASDAQ: TECH is a global life sciences company that develops and supplies research, diagnostic and bioprocessing products. Its portfolio includes proteins, antibodies, immunoassays, molecular biology reagents, cell and gene therapy tools, and instruments used by academic, pharmaceutical, biotechnology and diagnostic laboratories.

The company operates through brands including R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics. Its products support applications such as protein analysis, spatial biology, single-cell research, biomarker discovery, drug development and the manufacture of cell and gene therapies.

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