BIO-TECHNE (TECH) Reaches New 1-Year High at $149.06

BIO-TECHNE Corp (NASDAQ:TECH)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $149.06 and last traded at $149.06, with a volume of 22400 shares trading hands. The stock had previously closed at $148.68.

Several research firms have weighed in on TECH. BidaskClub upgraded BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Saturday, February 10th. Robert W. Baird raised their price target on BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Craig Hallum reissued a “buy” rating and set a $160.00 price target (up from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. Finally, Deutsche Bank set a $163.00 price target on BIO-TECHNE and gave the stock a “buy” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. BIO-TECHNE has a consensus rating of “Buy” and an average price target of $148.60.

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The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.49 and a current ratio of 3.10. The company has a market capitalization of $5,545.40, a PE ratio of 48.86, a price-to-earnings-growth ratio of 2.84 and a beta of 0.75.

BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The business had revenue of $154.15 million for the quarter, compared to the consensus estimate of $145.93 million. During the same period last year, the business posted $0.81 EPS. The business’s revenue was up 16.9% compared to the same quarter last year. research analysts anticipate that BIO-TECHNE Corp will post 4.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 16th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.86%. BIO-TECHNE’s dividend payout ratio is presently 41.97%.

In other news, Director Charles A. Dinarello sold 5,000 shares of BIO-TECHNE stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank grew its stake in BIO-TECHNE by 5.4% during the 4th quarter. Amalgamated Bank now owns 7,772 shares of the biotechnology company’s stock worth $1,007,000 after buying an additional 399 shares during the last quarter. Meadow Creek Investment Management LLC lifted its position in BIO-TECHNE by 14.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 3,520 shares of the biotechnology company’s stock worth $456,000 after acquiring an additional 440 shares during the period. Jane Street Group LLC lifted its position in BIO-TECHNE by 17.5% during the 4th quarter. Jane Street Group LLC now owns 3,016 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 449 shares during the period. Oppenheimer Asset Management Inc. lifted its position in BIO-TECHNE by 3.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,180 shares of the biotechnology company’s stock worth $1,473,000 after acquiring an additional 452 shares during the period. Finally, Pacer Advisors Inc. lifted its position in BIO-TECHNE by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 4,846 shares of the biotechnology company’s stock worth $586,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 97.12% 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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