Bio-Techne Corp (NASDAQ:TECH) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $126.33.

A number of research analysts recently commented on TECH shares. Deutsche Bank AG increased their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Thursday, July 6th. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Wells Fargo & Company started coverage on shares of Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating for the company.

In related news, Director Karen A. Holbrook sold 1,059 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total value of $128,912.07. Following the sale, the director now directly owns 914 shares of the company’s stock, valued at approximately $111,261.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,259 shares of company stock worth $152,436 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of TECH. BlackRock Inc. raised its position in Bio-Techne Corp by 14,548.6% in the 1st quarter. BlackRock Inc. now owns 3,500,436 shares of the biotechnology company’s stock worth $355,820,000 after purchasing an additional 3,476,540 shares during the period. Janus Henderson Group PLC raised its position in Bio-Techne Corp by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock worth $139,603,000 after purchasing an additional 914,554 shares during the period. American Century Companies Inc. raised its position in Bio-Techne Corp by 174.8% in the 2nd quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock worth $85,962,000 after purchasing an additional 465,398 shares during the period. Koch Industries Inc. purchased a new stake in Bio-Techne Corp in the 2nd quarter worth about $286,000. Finally, Schroder Investment Management Group raised its position in Bio-Techne Corp by 222.0% in the 2nd quarter. Schroder Investment Management Group now owns 342,815 shares of the biotechnology company’s stock worth $40,220,000 after purchasing an additional 236,362 shares during the period. 98.40% of the stock is currently owned by institutional investors.

Shares of Bio-Techne Corp (TECH) opened at 122.30 on Wednesday. The stock has a market cap of $4.57 billion, a P/E ratio of 60.25 and a beta of 0.76. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $124.00. The firm’s 50-day moving average price is $121.47 and its 200-day moving average price is $113.95.

Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $150.25 million. During the same quarter last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. Equities analysts predict that Bio-Techne Corp will post $3.99 EPS for the current year.

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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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