Bio-Techne Corp (TECH) Given Average Rating of “Buy” by Brokerages
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.
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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