Bio-Techne Corp (NASDAQ:TECH) Stock Has Average Target Price of $68.92 According to Analysts

Key Points

• Analysts maintain a cautious outlook: Bio-Techne has an average “Hold” rating from 17 analysts, with 15 holds and two buys. The average 12-month price target is $68.92, below the stock’s reported $72.58 opening price.
• Recent results met expectations: The company reported quarterly EPS of $0.52, in line with consensus, while revenue of $321.19 million exceeded estimates and rose 1.3% year over year.
• Bio-Techne increased its dividend: The quarterly payout rose to $0.65 per share, or $2.60 annualized, representing a 3.6% yield. Institutional investors own approximately 98.95% of the company’s shares.

Shares of Bio-Techne Corp (NASDAQ:TECH - Get Free Report) have earned an average rating of "Hold" from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $68.92.

A number of research firms recently commented on TECH. Piper Sandler assumed coverage on Bio-Techne in a research note on Thursday, June 11th. They issued a "neutral" rating and a $65.00 target price on the stock. William Blair lowered Bio-Techne from an "outperform" rating to a "market perform" rating in a research note on Thursday, June 25th. Weiss Ratings upgraded Bio-Techne from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Evercore lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Leerink Partners set a $73.00 price objective on Bio-Techne in a report on Thursday, June 25th.

Bio-Techne Price Performance

TECH stock opened at $72.58 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. Bio-Techne has a one year low of $43.19 and a one year high of $72.69. The stock has a market cap of $11.38 billion, a PE ratio of 63.11, a P/E/G ratio of 8.76 and a beta of 1.30. The firm has a 50 day simple moving average of $72.31 and a two-hundred day simple moving average of $62.59.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The firm had revenue of $321.19 million for the quarter, compared to analysts' expectations of $314.63 million. During the same quarter last year, the company posted $0.53 EPS. The business's quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts predict that Bio-Techne will post 1.73 EPS for the current fiscal year.

Bio-Techne Increases Dividend

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

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently made changes to their positions in the business. Cim Investment Management Inc. bought a new position in shares of Bio-Techne during the 2nd quarter valued at $215,000. HBK Investments L P purchased a new position in Bio-Techne in the 2nd quarter worth $482,186,000. WINTON GROUP Ltd bought a new stake in Bio-Techne in the second quarter worth $4,750,000. Engineers Gate Manager LP bought a new stake in Bio-Techne in the second quarter worth $2,105,000. Finally, SVB Wealth LLC purchased a new stake in Bio-Techne during the second quarter valued at about $244,000. 98.95% of the stock is currently owned by institutional investors.

About Bio-Techne

Bio-Techne Corporation is a life sciences company that develops and supplies research, diagnostic and bioprocessing products for the biotechnology and pharmaceutical industries, academic institutions, clinical laboratories and other healthcare organizations. Its portfolio supports research in areas such as cancer, immunology, neuroscience, cell biology and precision medicine.

The company provides proteins, antibodies, immunoassays, reagents, gene and cell therapy materials, and analytical instruments.

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