Bio-Techne (NASDAQ:TECH) Reaches New 52-Week High - Time to Buy?

Key Points

• Bio-Techne shares reached a new 52-week high of $72.70, with the stock trading well above its 200-day moving average of $61.70.
• Analysts remain cautious: the stock carries a consensus “Hold” rating from 17 analysts, with an average price target of $68.92—below its current price.
• The company matched quarterly earnings expectations at $0.52 per share and exceeded revenue estimates, while raising its quarterly dividend to $0.65, equivalent to a 3.6% yield.

Shares of Bio-Techne Corp (NASDAQ:TECH - Get Free Report) hit a new 52-week high on Monday. The company traded as high as $72.70 and last traded at $72.70, with a volume of 2660 shares trading hands. The stock had previously closed at $72.61.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen downgraded Bio-Techne from a "buy" rating to a "hold" rating and lifted their target price for the stock from $65.00 to $73.00 in a report on Monday, June 29th. Weiss Ratings upgraded shares of Bio-Techne from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. William Blair lowered shares of Bio-Techne from an "outperform" rating to a "market perform" rating in a research report on Thursday, June 25th. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a research note on Thursday, June 25th. Finally, Stephens set a $73.00 price objective on shares of Bio-Techne and gave the company an "equal weight" rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.92.

Bio-Techne Trading Down 0.0%

The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 63.12, a PEG ratio of 8.79 and a beta of 1.28. The company has a fifty day moving average price of $72.21 and a 200-day moving average price of $61.70. The company has a current ratio of 4.55, a quick ratio of 3.35 and a debt-to-equity ratio of 0.09.

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 analysts' consensus estimates of $0.52. The firm had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, research analysts expect that Bio-Techne Corp will post 1.73 EPS for the current year.

Bio-Techne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Monday, August 24th were given a $0.65 dividend. The ex-dividend date was Monday, August 24th. This represents a $2.60 annualized dividend and a yield of 3.6%. This is a boost from Bio-Techne's previous quarterly dividend of $0.08. Bio-Techne's payout ratio is currently 27.83%.

Hedge Funds Weigh In On Bio-Techne

Several institutional investors have recently made changes to their positions in TECH. HBK Investments L P purchased a new stake in Bio-Techne during the second quarter worth $482,186,000. WINTON GROUP Ltd acquired a new stake in Bio-Techne during the second quarter valued at $4,750,000. Engineers Gate Manager LP purchased a new position in Bio-Techne in the second quarter valued at $2,105,000. SVB Wealth LLC purchased a new position in Bio-Techne in the second quarter valued at $244,000. Finally, NorthRock Partners LLC acquired a new position in shares of Bio-Techne in the second quarter worth about $239,000. 98.95% of the stock is owned by hedge funds and other 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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