Bio-Techne Corp (NASDAQ:TECH) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $126.33.

TECH has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company initiated coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They set a “market perform” rating on the stock. Finally, Deutsche Bank AG set a $132.00 target price on shares of Bio-Techne Corp and gave the stock a “buy” rating in a research note on Wednesday, August 30th.

In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the completion of the sale, the director now directly owns 914 shares of the company’s stock, valued at approximately $111,261.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 1,359 shares of company stock valued at $164,122. Insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TECH. BlackRock Inc. grew its holdings in Bio-Techne Corp by 14,548.6% during the 1st quarter. BlackRock Inc. now owns 3,500,436 shares of the biotechnology company’s stock valued at $355,820,000 after buying an additional 3,476,540 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Bio-Techne Corp by 334.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after buying an additional 914,554 shares in the last quarter. American Century Companies Inc. grew its holdings in Bio-Techne Corp by 174.8% during the 2nd quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock valued at $85,962,000 after buying an additional 465,398 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Bio-Techne Corp by 18.4% during the 1st quarter. Neuberger Berman Group LLC now owns 1,900,495 shares of the biotechnology company’s stock valued at $193,185,000 after buying an additional 295,802 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in Bio-Techne Corp during the 2nd quarter valued at approximately $286,000. 98.77% of the stock is owned by institutional investors and hedge funds.

Bio-Techne Corp (TECH) opened at 121.58 on Friday. The stock has a market cap of $4.54 billion, a PE ratio of 59.89 and a beta of 0.78. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $124.00. The company’s 50-day moving average is $118.96 and its 200 day moving average is $111.92.

Bio-Techne Corp (NASDAQ:TECH) last released its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The company had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter last year, the business earned $0.92 EPS. The firm’s revenue was up 16.2% compared to the same quarter last year. On average, analysts expect that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Wednesday, August 16th. Bio-Techne Corp’s payout ratio is 65.98%.

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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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