Zacks Research Upgrades Bio-Techne (NASDAQ:TECH) to Strong-Buy

Bio-Techne (NASDAQ:TECH) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

TECH has been the subject of a number of other research reports. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Wells Fargo & Company cut shares of Bio-Techne from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $62.00 to $73.00 in a research report on Thursday, August 13th. Evercore lowered shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Argus cut shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Bio-Techne in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Stock Down 0.1%

Shares of Bio-Techne stock opened at $72.66 on Thursday. Bio-Techne has a 12 month low of $43.19 and a 12 month high of $72.75. The business has a fifty day simple moving average of $72.45 and a 200 day simple moving average of $63.28. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. The stock has a market cap of $11.41 billion, a PE ratio of 63.18, a price-to-earnings-growth ratio of 5.28 and a beta of 1.30.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $314.63 million. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. Research analysts predict that Bio-Techne will post 1.75 EPS for the current year.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds have recently modified their holdings of TECH. BlackRock Inc. bought a new position in Bio-Techne in the second quarter valued at approximately $990,924,000. HBK Investments L P bought a new stake in shares of Bio-Techne during the 2nd quarter worth approximately $482,186,000. Ruane Cunniff & Goldfarb L.P. raised its stake in shares of Bio-Techne by 131.4% during the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock worth $177,266,000 after purchasing an additional 1,926,066 shares in the last quarter. Amundi raised its stake in shares of Bio-Techne by 2,426.8% during the 2nd quarter. Amundi now owns 1,827,241 shares of the biotechnology company’s stock worth $129,095,000 after purchasing an additional 1,754,926 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Bio-Techne in the 2nd quarter valued at approximately $90,305,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.