Bio-Techne Corp (TECH) Lowered to Hold at BidaskClub
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.
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