BIO-TECHNE (NASDAQ:TECH) received a $163.00 price target from investment analysts at Deutsche Bank in a research report issued on Thursday. The firm presently has a “buy” rating on the biotechnology company’s stock. Deutsche Bank’s target price points to a potential upside of 15.32% from the stock’s previous close.
Several other equities analysts have also recently weighed in on TECH. Robert W. Baird boosted their price objective on BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Craig Hallum reissued a “buy” rating and set a $160.00 price objective (up previously from $140.00) on shares of BIO-TECHNE in a research report on Wednesday, February 7th. Zacks Investment Research cut BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Finally, Leerink Swann reaffirmed a “buy” rating on shares of BIO-TECHNE in a report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $148.60.
BIO-TECHNE (NASDAQ:TECH) traded down $0.21 on Thursday, hitting $141.34. The stock had a trading volume of 206,200 shares, compared to its average volume of 183,888. The company has a market cap of $5,304.45, a P/E ratio of 46.34, a PEG ratio of 2.72 and a beta of 0.78. BIO-TECHNE has a 52 week low of $98.22 and a 52 week high of $143.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.49 and a current ratio of 3.10.
In other BIO-TECHNE news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TECH. TimesSquare Capital Management LLC bought a new stake in shares of BIO-TECHNE in the 4th quarter valued at approximately $45,083,000. Renaissance Technologies LLC grew its stake in shares of BIO-TECHNE by 45.5% in the 4th quarter. Renaissance Technologies LLC now owns 356,000 shares of the biotechnology company’s stock valued at $46,120,000 after purchasing an additional 111,300 shares during the period. Citadel Advisors LLC grew its stake in shares of BIO-TECHNE by 28.8% in the 4th quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock valued at $53,988,000 after purchasing an additional 93,175 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in shares of BIO-TECHNE in the 4th quarter valued at approximately $9,766,000. Finally, Jackson Square Partners LLC grew its stake in shares of BIO-TECHNE by 8.1% in the 4th quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock valued at $120,662,000 after purchasing an additional 69,784 shares during the period. Institutional investors own 98.00% of the company’s stock.
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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.
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