Bio-Techne (NASDAQ:TECH) Given New $82.00 Price Target at Deutsche Bank Aktiengesellschaft

Bio-Techne (NASDAQ:TECH) had its price target lowered by Deutsche Bank Aktiengesellschaft from $85.00 to $82.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

TECH has been the topic of a number of other research reports. Royal Bank of Canada cut their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a sector perform rating on the stock in a report on Friday, February 2nd. Stephens cut their price target on shares of Bio-Techne from $92.00 to $87.00 and set an overweight rating on the stock in a research note on Friday, February 2nd. Scotiabank began coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They issued a sector outperform rating and a $80.00 price objective for the company. Finally, Stifel Nicolaus cut Bio-Techne from a buy rating to a hold rating and set a $65.00 target price on the stock. in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $83.90.

Bio-Techne Stock Performance

Shares of TECH stock opened at $62.12 on Thursday. The company has a market cap of $9.76 billion, a P/E ratio of 45.01, a PEG ratio of 7.04 and a beta of 1.22. The firm has a fifty day moving average price of $70.50 and a 200 day moving average price of $68.63. The company has a current ratio of 4.37, a quick ratio of 3.03 and a debt-to-equity ratio of 0.23. Bio-Techne has a 12 month low of $51.79 and a 12 month high of $89.91.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. The business had revenue of $272.60 million for the quarter, compared to analyst estimates of $277.48 million. Sell-side analysts predict that Bio-Techne will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Monday, February 12th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, February 9th. Bio-Techne’s dividend payout ratio is presently 23.19%.

Insider Buying and Selling at Bio-Techne

In other news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.45% of the company’s stock.

Institutional Trading of Bio-Techne

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its holdings in Bio-Techne by 31.2% in the 1st quarter. Private Advisor Group LLC now owns 1,571 shares of the biotechnology company’s stock valued at $680,000 after purchasing an additional 374 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Bio-Techne by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,257 shares of the biotechnology company’s stock valued at $2,276,000 after buying an additional 325 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Bio-Techne by 8.0% during the first quarter. Raymond James Trust N.A. now owns 1,466 shares of the biotechnology company’s stock worth $635,000 after acquiring an additional 108 shares during the period. Synovus Financial Corp raised its position in Bio-Techne by 13.3% in the first quarter. Synovus Financial Corp now owns 1,964 shares of the biotechnology company’s stock worth $848,000 after acquiring an additional 230 shares in the last quarter. Finally, Aviva PLC lifted its holdings in Bio-Techne by 9.9% in the first quarter. Aviva PLC now owns 17,298 shares of the biotechnology company’s stock valued at $7,491,000 after acquiring an additional 1,552 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, 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.