Argus Forecasts Strong Price Appreciation for Bio-Techne (NASDAQ:TECH) Stock

Bio-Techne (NASDAQ:TECH) had its price objective raised by analysts at Argus from $65.00 to $68.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Argus’ price objective indicates a potential upside of 17.63% from the stock’s previous close.

TECH has been the topic of several other research reports. UBS Group raised their target price on shares of Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Citigroup upgraded shares of Bio-Techne from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $70.00 in a report on Thursday, August 21st. Evercore ISI set a $68.00 price objective on shares of Bio-Techne in a research report on Thursday, November 6th. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company lifted their price target on Bio-Techne from $59.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.92.

Bio-Techne Trading Down 0.6%

TECH opened at $57.81 on Thursday. Bio-Techne has a 12 month low of $46.01 and a 12 month high of $79.28. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 125.68, a PEG ratio of 3.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.46 and a quick ratio of 2.38. The business has a fifty day moving average price of $58.52 and a 200 day moving average price of $54.29.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $286.56 million for the quarter, compared to analyst estimates of $292.02 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.Bio-Techne’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Sell-side analysts expect that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Institutional Trading of Bio-Techne

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Bio-Techne by 109.7% during the third quarter. Blue Trust Inc. now owns 453 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 237 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Bio-Techne during the first quarter worth about $34,000. Measured Wealth Private Client Group LLC purchased a new stake in Bio-Techne in the 3rd quarter valued at approximately $32,000. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne in the third quarter valued at approximately $33,000. Finally, Allworth Financial LP lifted its holdings in Bio-Techne by 68.1% in the second quarter. Allworth Financial LP now owns 612 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 248 shares during the period. 98.95% of the stock is owned by hedge funds and other 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.