Bio-Techne Co. (NASDAQ:TECH) Receives $82.00 Average PT from Analysts

Bio-Techne Co. (NASDAQ:TECH) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $82.00.

Several analysts have issued reports on the company. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank raised their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st.

Bio-Techne Stock Down 0.4 %

TECH stock opened at $72.03 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The firm has a market cap of $11.44 billion, a PE ratio of 76.63, a P/E/G ratio of 5.52 and a beta of 1.27. Bio-Techne has a 12 month low of $61.16 and a 12 month high of $85.57. The firm has a 50 day simple moving average of $73.50 and a 200 day simple moving average of $74.21.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Equities research analysts forecast that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Bio-Techne’s dividend payout ratio is currently 34.04%.

Institutional Investors Weigh In On Bio-Techne

A number of large investors have recently bought and sold shares of TECH. Itau Unibanco Holding S.A. acquired a new stake in shares of Bio-Techne in the second quarter worth about $25,000. Brown Brothers Harriman & Co. lifted its holdings in Bio-Techne by 922.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Bio-Techne during the second quarter valued at approximately $31,000. Brooklyn Investment Group bought a new position in shares of Bio-Techne in the third quarter valued at approximately $39,000. Finally, Quest Partners LLC acquired a new stake in shares of Bio-Techne in the third quarter worth $43,000. 98.95% of the stock is currently owned by institutional investors.

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.