Bio-Techne Corp (NASDAQ:TECH) Given Consensus Rating of “Hold” by Brokerages

Shares of Bio-Techne Corp (NASDAQ:TECH) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are presently covering the company, MarketBeat reports. Fifteen analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $68.9231.

A number of analysts have commented on TECH shares. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Robert W. Baird raised their target price on Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Wells Fargo & Company cut Bio-Techne from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $62.00 to $73.00 in a research report on Thursday, August 13th. Stephens set a $73.00 price target on Bio-Techne and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th.

Institutional Trading of Bio-Techne

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Bio-Techne in the 2nd quarter worth approximately $990,924,000. California State Teachers Retirement System grew its holdings in Bio-Techne by 6,800.5% during the second quarter. California State Teachers Retirement System now owns 12,708,310 shares of the biotechnology company’s stock valued at $897,842,000 after purchasing an additional 12,524,146 shares during the period. Morgan Stanley grew its holdings in Bio-Techne by 15.3% during the fourth quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock valued at $490,794,000 after purchasing an additional 1,107,536 shares during the period. State Street Corp increased its position in Bio-Techne by 1.0% in the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock worth $341,806,000 after buying an additional 58,639 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Bio-Techne by 12.1% in the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after buying an additional 618,916 shares during the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH stock opened at $72.08 on Friday. The firm has a 50 day moving average of $71.96 and a 200-day moving average of $60.49. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 62.68, a price-to-earnings-growth ratio of 8.60 and a beta of 1.28. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. Bio-Techne has a 52 week low of $43.19 and a 52 week high of $72.62.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The company had revenue of $321.19 million during the quarter, compared to the consensus estimate of $314.63 million. During the same period last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Bio-Techne will post 1.76 earnings per share for the current year.

Bio-Techne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Monday, August 24th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops and supplies research, diagnostic and bioprocessing products. Its portfolio includes proteins, antibodies, immunoassays, molecular biology reagents, cell and gene therapy tools, and instruments used by academic, pharmaceutical, biotechnology and diagnostic laboratories.

The company operates through brands including R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics. Its products support applications such as protein analysis, spatial biology, single-cell research, biomarker discovery, drug development and the manufacture of cell and gene therapies.