Bio-Techne Corp (NASDAQ:TECH) Receives Average Recommendation of “Hold” from Analysts

Bio-Techne Corp (NASDAQ:TECH) has been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $68.0769.

A number of analysts have recently commented on TECH shares. Zacks Research downgraded Bio-Techne from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Stifel Nicolaus set a $50.00 price target on Bio-Techne in a research report on Thursday, May 7th. Evercore downgraded Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Robert W. Baird upped their price objective on Bio-Techne from $49.00 to $73.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada cut shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th.

Bio-Techne Trading Up 0.2%

NASDAQ TECH opened at $71.78 on Thursday. The company has a market capitalization of $11.24 billion, a PE ratio of 104.03, a P/E/G ratio of 8.53 and a beta of 1.29. The company has a fifty day moving average of $59.38 and a 200 day moving average of $58.65. Bio-Techne has a 1 year low of $43.19 and a 1 year high of $72.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. Research analysts forecast that Bio-Techne will post 1.65 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Bio-Techne’s dividend payout ratio is 46.38%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in shares of Bio-Techne in the fourth quarter worth about $29,000. eCIO Inc. acquired a new stake in shares of Bio-Techne during the 4th quarter valued at about $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Bio-Techne during the 3rd quarter valued at about $32,000. iSAM Funds UK Ltd purchased a new position in shares of Bio-Techne in the 3rd quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 562 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.