Bio-Techne Corp (NASDAQ:TECH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Bio-Techne Corp (NASDAQ:TECH) has earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $65.9231.

A number of analysts recently weighed in on TECH shares. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. TD Cowen reissued a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. Royal Bank Of Canada set a $62.00 price objective on shares of Bio-Techne and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Zacks Research raised shares of Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th.

Bio-Techne Stock Performance

Bio-Techne stock opened at $49.77 on Wednesday. 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 has a 1-year low of $43.19 and a 1-year high of $72.16. The firm has a market capitalization of $7.79 billion, a P/E ratio of 72.13, a price-to-earnings-growth ratio of 3.95 and a beta of 1.37. The company’s 50-day moving average is $52.07 and its 200 day moving average is $57.82.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share 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 during the quarter, compared to analysts’ expectations of $316.11 million. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts forecast that Bio-Techne will post 1.69 EPS for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio is currently 46.38%.

Hedge Funds Weigh In On Bio-Techne

Hedge funds have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Bio-Techne in the 4th quarter worth about $29,000. eCIO Inc. bought a new position in Bio-Techne in the 4th quarter worth about $30,000. Measured Wealth Private Client Group LLC bought a new position in Bio-Techne in the 3rd quarter worth about $32,000. iSAM Funds UK Ltd bought a new position in Bio-Techne in the 3rd quarter worth about $33,000. Finally, Los Angeles Capital Management LLC bought a new position in Bio-Techne in the 4th quarter worth about $39,000. 98.95% of the stock is currently owned by institutional investors.

About Bio-Techne

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.