Bio-Techne Corp (NASDAQ:TECH) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Sunday.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Citigroup Inc. reissued a “buy” rating and set a $125.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. Wells Fargo & Company assumed coverage on Bio-Techne Corp in a research note on Thursday. They set a “market perform” rating on the stock. TheStreet raised Bio-Techne Corp from a “c+” rating to a “b” rating in a research note on Tuesday, May 2nd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $122.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $123.20.

Shares of Bio-Techne Corp (TECH) traded down 0.35% during trading on Friday, hitting $115.25. 88,413 shares of the stock traded hands. The company has a market cap of $4.30 billion, a P/E ratio of 62.00 and a beta of 0.79. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $119.98. The stock has a 50-day moving average of $112.86 and a 200 day moving average of $106.00.

Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.04. The business had revenue of $144.04 million during the quarter, compared to analysts’ expectations of $142.83 million. Bio-Techne Corp had a return on equity of 13.80% and a net margin of 12.86%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. On average, equities research analysts predict that Bio-Techne Corp will post $3.62 EPS for the current fiscal year.

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In related news, Director Karen A. Holbrook sold 5,000 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $111.15, for a total value of $555,750.00. Following the sale, the director now owns 6,973 shares in the company, valued at approximately $775,048.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 10,300 shares of company stock worth $1,146,707. Corporate insiders own 2.70% of the company’s stock.

A number of large investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in Bio-Techne Corp by 6.8% in the second quarter. State of Alaska Department of Revenue now owns 3,799 shares of the biotechnology company’s stock worth $446,000 after buying an additional 242 shares during the last quarter. Confluence Investment Management LLC increased its position in Bio-Techne Corp by 6.0% in the second quarter. Confluence Investment Management LLC now owns 30,820 shares of the biotechnology company’s stock worth $3,622,000 after buying an additional 1,756 shares during the last quarter. Capstone Asset Management Co. increased its position in Bio-Techne Corp by 0.4% in the second quarter. Capstone Asset Management Co. now owns 7,680 shares of the biotechnology company’s stock worth $902,000 after buying an additional 30 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Bio-Techne Corp by 7.6% in the first quarter. Goldman Sachs Group Inc. now owns 259,249 shares of the biotechnology company’s stock worth $26,352,000 after buying an additional 18,389 shares during the last quarter. Finally, First Financial Equity Corporation acquired a new position in Bio-Techne Corp during the first quarter worth approximately $203,000. Institutional investors own 96.91% of the company’s stock.

About Bio-Techne Corp

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.

Analyst Recommendations for Bio-Techne Corp (NASDAQ:TECH)

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