Bio-Techne (NASDAQ:TECH) Sets New 1-Year High - Time to Buy?

Key Points

• Bio-Techne reached a new 52-week high of $72.76, with the stock trading near $72.69 and market capitalization at approximately $11.4 billion.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating from 17 analysts, with a consensus price target of $68.92—below its current trading level.
• The company reported quarterly revenue of $321.19 million, exceeding estimates, while EPS matched expectations at $0.52. Bio-Techne also increased its quarterly dividend to $0.65 per share, implying a 3.6% yield.

Bio-Techne Corp (NASDAQ:TECH - Get Free Report) hit a new 52-week high on Friday. The company traded as high as $72.76 and last traded at $72.6910, with a volume of 401 shares. The stock had previously closed at $72.71.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TECH shares. Evercore lowered Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Weiss Ratings upgraded Bio-Techne from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Royal Bank Of Canada downgraded shares of Bio-Techne from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $62.00 to $73.00 in a report on Thursday, July 9th. Zacks Research upgraded Bio-Techne from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Benchmark reaffirmed a "hold" rating on shares of Bio-Techne in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.92.

Bio-Techne Trading Up 0.0%

The firm has a market capitalization of $11.40 billion, a P/E ratio of 63.23, a PEG ratio of 5.27 and a beta of 1.30. The firm has a 50 day moving average of $72.44 and a 200-day moving average of $63.25. The company has a quick ratio of 3.35, a current ratio of 4.55 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, 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 company had revenue of $321.19 million during the quarter, compared to analysts' expectations of $314.63 million. During the same period in the previous year, the company earned $0.53 EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Bio-Techne Corp will post 1.75 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Monday, August 24th were given a dividend of $0.65 per share. This is a boost 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 currently 27.83%.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently made changes to their positions in TECH. S&CO Inc. bought a new stake in Bio-Techne during the 2nd quarter valued at about $5,412,000. HBK Investments L P purchased a new position in Bio-Techne in the second quarter worth about $482,186,000. American Capital Management Inc. increased its holdings in Bio-Techne by 8.5% during the first quarter. American Capital Management Inc. now owns 1,021,128 shares of the biotechnology company's stock valued at $53,364,000 after buying an additional 79,979 shares during the last quarter. Maven Securities LTD bought a new position in Bio-Techne in the 2nd quarter worth $3,865,000. Finally, Squarepoint Ops LLC lifted its position in shares of Bio-Techne by 2,094.5% during the 2nd quarter. Squarepoint Ops LLC now owns 91,268 shares of the biotechnology company's stock valued at $6,448,000 after buying an additional 87,109 shares in the last quarter. 98.95% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.

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