Bio-Techne (NASDAQ:TECH) Given Sector Weight Rating at KeyCorp

Bio-Techne (NASDAQ:TECH)‘s stock had its “sector weight” rating reaffirmed by KeyCorp in a report issued on Wednesday,Benzinga reports.

A number of other analysts have also recently commented on TECH. Robert W. Baird cut shares of Bio-Techne from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $88.00 to $68.00 in a research note on Wednesday, February 19th. Baird R W lowered Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Citigroup reduced their price target on Bio-Techne from $80.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Evercore ISI started coverage on Bio-Techne in a report on Tuesday, March 18th. They set an “outperform” rating and a $75.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Bio-Techne Stock Performance

NASDAQ:TECH opened at $48.81 on Wednesday. The company has a market capitalization of $7.72 billion, a P/E ratio of 49.30, a P/E/G ratio of 2.88 and a beta of 1.45. The business has a fifty day simple moving average of $62.98 and a two-hundred day simple moving average of $70.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.94 and a quick ratio of 2.77. Bio-Techne has a 1 year low of $40.77 and a 1 year high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, analysts expect that Bio-Techne will post 1.67 earnings per share for the current year.

Insider Activity

In other news, Director Amy E. Herr sold 1,860 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $65.96, for a total value of $122,685.60. Following the completion of the transaction, the director now directly owns 1,976 shares in the company, valued at approximately $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TECH. Bradley Foster & Sargent Inc. CT raised its position in Bio-Techne by 1.5% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 10,799 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 160 shares during the period. UMB Bank n.a. increased its stake in shares of Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after buying an additional 168 shares during the period. Verdence Capital Advisors LLC raised its holdings in Bio-Techne by 1.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 11,967 shares of the biotechnology company’s stock valued at $862,000 after buying an additional 173 shares during the last quarter. Fifth Third Bancorp boosted its position in Bio-Techne by 2.3% during the 4th quarter. Fifth Third Bancorp now owns 8,394 shares of the biotechnology company’s stock valued at $605,000 after buying an additional 189 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Bio-Techne by 35.0% in the 4th quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 198 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

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.