BIO-TECHNE (TECH) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of BIO-TECHNE (NASDAQ:TECH) from a hold rating to a buy rating in a report released on Saturday morning. The firm currently has $158.00 target price on the biotechnology company’s stock.

According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “

TECH has been the topic of several other research reports. Citigroup restated a buy rating and set a $115.00 price objective (down previously from $125.00) on shares of BIO-TECHNE in a report on Tuesday, October 24th. Deutsche Bank set a $145.00 price objective on shares of BIO-TECHNE and gave the company a buy rating in a report on Tuesday, October 31st. Leerink Swann restated a buy rating on shares of BIO-TECHNE in a report on Tuesday, December 5th. Robert W. Baird restated a buy rating and set a $154.00 price objective on shares of BIO-TECHNE in a report on Thursday. Finally, BidaskClub downgraded shares of BIO-TECHNE from a buy rating to a hold rating in a report on Tuesday, December 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. BIO-TECHNE has a consensus rating of Buy and an average price target of $143.00.

BIO-TECHNE (NASDAQ:TECH) traded up $0.70 on Friday, hitting $140.72. 193,657 shares of the stock traded hands, compared to its average volume of 134,221. BIO-TECHNE has a 12-month low of $95.68 and a 12-month high of $141.83. The company has a current ratio of 2.87, a quick ratio of 2.25 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $5,271.65, a P/E ratio of 40.55, a P/E/G ratio of 3.20 and a beta of 0.75.

BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.08. BIO-TECHNE had a net margin of 12.54% and a return on equity of 14.11%. The firm had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts expect that BIO-TECHNE will post 3.77 EPS for the current fiscal year.

In related news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total value of $650,900.00. Following the transaction, the director now owns 12,712 shares in the company, valued at approximately $1,654,848.16. The sale was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of TECH. Prudential Financial Inc. increased its holdings in BIO-TECHNE by 1.4% in the 2nd quarter. Prudential Financial Inc. now owns 23,555 shares of the biotechnology company’s stock worth $2,768,000 after buying an additional 330 shares during the period. JPMorgan Chase & Co. increased its holdings in BIO-TECHNE by 665.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,034 shares of the biotechnology company’s stock worth $709,000 after buying an additional 5,246 shares during the period. Eaton Vance Management increased its holdings in BIO-TECHNE by 0.4% in the 2nd quarter. Eaton Vance Management now owns 2,566 shares of the biotechnology company’s stock worth $302,000 after buying an additional 9 shares during the period. Wells Fargo & Company MN increased its holdings in BIO-TECHNE by 7.5% in the 2nd quarter. Wells Fargo & Company MN now owns 49,657 shares of the biotechnology company’s stock worth $5,834,000 after buying an additional 3,475 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in BIO-TECHNE by 1.5% in the 2nd quarter. Alliancebernstein L.P. now owns 25,784 shares of the biotechnology company’s stock worth $3,030,000 after buying an additional 390 shares during the period. Institutional investors own 96.96% of the company’s stock.

WARNING: “BIO-TECHNE (TECH) Upgraded to Buy by Zacks Investment Research” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.tickerreport.com/banking-finance/3149184/bio-techne-tech-upgraded-to-buy-by-zacks-investment-research.html.

BIO-TECHNE Company Profile

Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.

Get a free copy of the Zacks research report on BIO-TECHNE (TECH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for BIO-TECHNE (NASDAQ:TECH)

Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.