Bio-Techne Co. (NASDAQ:TECH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Bio-Techne Co. (NASDAQ:TECH) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $80.60.

A number of analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th.

Bio-Techne Stock Down 0.3 %

Shares of TECH opened at $73.59 on Friday. The stock has a market capitalization of $11.68 billion, a PE ratio of 70.76, a P/E/G ratio of 5.27 and a beta of 1.27. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The company’s 50-day simple moving average is $74.27 and its 200-day simple moving average is $74.39.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. Analysts forecast that Bio-Techne will post 1.7 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s payout ratio is 23.08%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd raised its stake in Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after purchasing an additional 11,667 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Bio-Techne by 20.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 200,662 shares of the biotechnology company’s stock valued at $14,125,000 after purchasing an additional 33,709 shares during the last quarter. Tidal Investments LLC grew its holdings in Bio-Techne by 135.5% in the 1st quarter. Tidal Investments LLC now owns 31,990 shares of the biotechnology company’s stock valued at $2,252,000 after buying an additional 18,404 shares during the period. Seven Eight Capital LP purchased a new stake in Bio-Techne in the 1st quarter valued at about $569,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Bio-Techne by 20.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock valued at $122,879,000 after buying an additional 290,510 shares during the period. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.