BIO-TECHNE (NASDAQ:TECH) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of BIO-TECHNE (NASDAQ:TECH) from a buy rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

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 a number of other research reports. BidaskClub lowered BIO-TECHNE from a buy rating to a hold rating in a research note on Saturday, July 13th. ValuEngine lowered BIO-TECHNE from a strong-buy rating to a buy rating in a research note on Thursday, August 1st. TheStreet lowered BIO-TECHNE from a b rating to a c+ rating in a research note on Tuesday, August 6th. Finally, Janney Montgomery Scott upgraded BIO-TECHNE from a neutral rating to a buy rating and lifted their price target for the company from $200.00 to $270.00 in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $211.17.

BIO-TECHNE stock opened at $192.85 on Tuesday. The stock’s fifty day moving average price is $207.21 and its two-hundred day moving average price is $199.70. BIO-TECHNE has a one year low of $132.75 and a one year high of $217.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.05 and a quick ratio of 3.15. The firm has a market cap of $7.47 billion, a PE ratio of 50.75, a price-to-earnings-growth ratio of 4.23 and a beta of 1.17.

BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.08. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. The firm had revenue of $191.66 million for the quarter, compared to analyst estimates of $196.37 million. During the same quarter last year, the company earned $1.34 EPS. The company’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts expect that BIO-TECHNE will post 4.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.32 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.66%. BIO-TECHNE’s payout ratio is 33.68%.

In related news, CEO Charles R. Kummeth sold 33,031 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $212.60, for a total transaction of $7,022,390.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brenda S. Furlow sold 5,400 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $200.00, for a total value of $1,080,000.00. Following the sale, the senior vice president now directly owns 7,589 shares in the company, valued at approximately $1,517,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,548 shares of company stock worth $9,790,896. Corporate insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in BIO-TECHNE by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock worth $60,275,000 after buying an additional 27,587 shares during the period. Louisiana State Employees Retirement System increased its position in BIO-TECHNE by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the biotechnology company’s stock worth $2,005,000 after buying an additional 100 shares during the period. Retirement Systems of Alabama increased its position in BIO-TECHNE by 49.6% in the 1st quarter. Retirement Systems of Alabama now owns 73,262 shares of the biotechnology company’s stock worth $14,546,000 after buying an additional 24,296 shares during the period. Tributary Capital Management LLC increased its position in BIO-TECHNE by 4.2% in the 1st quarter. Tributary Capital Management LLC now owns 7,500 shares of the biotechnology company’s stock worth $1,489,000 after buying an additional 300 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in BIO-TECHNE by 0.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 18,150 shares of the biotechnology company’s stock worth $3,604,000 after buying an additional 100 shares during the period. 92.09% of the stock is currently owned by institutional investors.

About BIO-TECHNE

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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