Bio-Techne (NASDAQ:TECH) Upgraded by Piper Sandler to “Hold” Rating

Piper Sandler upgraded shares of Bio-Techne (NASDAQ:TECH) to a hold rating in a report released on Thursday,Zacks.com reports.

TECH has been the topic of a number of other reports. Evercore set a $50.00 price target on Bio-Techne in a research note on Thursday, May 7th. Citigroup dropped their price target on Bio-Techne from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 price target on Bio-Techne and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Bio-Techne in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.15.

Bio-Techne Stock Up 2.9%

Shares of NASDAQ:TECH opened at $54.02 on Thursday. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 78.29, a P/E/G ratio of 5.02 and a beta of 1.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The business’s 50-day moving average is $52.12 and its 200-day moving average is $57.42. Bio-Techne has a 1 year low of $43.19 and a 1 year high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. Equities research analysts predict that Bio-Techne will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Institutional Trading of Bio-Techne

Institutional investors and hedge funds have recently modified their holdings of the business. Danske Bank A S purchased a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne during the third quarter valued at approximately $32,000. iSAM Funds UK Ltd purchased a new stake in shares of Bio-Techne during the third quarter valued at approximately $33,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Bio-Techne during the fourth quarter valued at approximately $39,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

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.