Bio-Techne (NASDAQ:TECH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Bio-Techne (NASDAQ:TECH) had its price target increased by Robert W. Baird from $49.00 to $73.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 3.25% from the company’s current price.

A number of other research firms have also recently issued reports on TECH. Leerink Partners set a $73.00 price objective on Bio-Techne in a report on Thursday. Stifel Nicolaus set a $50.00 target price on Bio-Techne in a research note on Thursday, May 7th. Citigroup decreased their target price on Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Evercore raised shares of Bio-Techne from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average price target of $67.50.

Bio-Techne Stock Up 20.1%

Shares of TECH opened at $70.70 on Friday. The company has a market cap of $11.07 billion, a PE ratio of 102.47, a P/E/G ratio of 5.67 and a beta of 1.37. The business has a fifty day moving average of $52.70 and a 200 day moving average of $56.99. Bio-Techne has a 52-week low of $43.19 and a 52-week high of $72.16. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The firm had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. During the same period in the prior year, the firm posted $0.56 earnings per share. Bio-Techne’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that Bio-Techne will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECH. Danske Bank A S purchased a new position in Bio-Techne during the 4th quarter valued at about $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne in the 4th quarter worth approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne in the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd bought a new position in shares of Bio-Techne during the third quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne News Roundup

Here are the key news stories impacting Bio-Techne this week:

• Positive Sentiment: Merck KGaA’s $73-per-share cash offer provides a large takeover premium and a valuation floor for Bio-Techne, which is the main reason the stock is higher. Article Title
• Positive Sentiment: The acquisition could create strategic and financial upside for Merck, including expected cost synergies, which supports confidence that the transaction is serious and likely to proceed. Article Title
• Neutral Sentiment: Law firms have launched shareholder investigations into whether Bio-Techne’s board obtained a fair price in the sale, which could create some deal-related noise but does not change the announced terms yet. Article Title

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.