Bio-Techne Corp (TECH) Rating Increased to Buy at Zacks Investment Research
Bio-Techne Corp (NASDAQ:TECH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm currently has a $143.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.60% from the company’s current price.
According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “
A number of other analysts also recently weighed in on the company. Deutsche Bank AG set a $132.00 target price on Bio-Techne Corp and gave the company a “buy” rating in a research report on Wednesday, August 30th. BidaskClub downgraded Bio-Techne Corp from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Wells Fargo & Company started coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating for the company. Finally, Citigroup Inc reiterated a “buy” rating and set a $115.00 target price (down from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Bio-Techne Corp has a consensus rating of “Buy” and a consensus target price of $131.25.
Shares of Bio-Techne Corp (NASDAQ TECH) opened at $129.29 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.87 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4,786.33, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 3.22 and a beta of 0.74.
Bio-Techne Corp (NASDAQ:TECH) last released its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $144.61 million during the quarter, compared to the consensus estimate of $142.37 million. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. equities analysts expect that Bio-Techne Corp will post 3.73 EPS for the current year.
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In other news, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the transaction, the director now owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen A. Holbrook sold 1,059 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the transaction, the director now directly owns 914 shares of the company’s stock, valued at approximately $111,261.22. The disclosure for this sale can be found here. Insiders have sold a total of 6,359 shares of company stock valued at $815,532 in the last three months. 3.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Bio-Techne Corp by 1.7% in the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock worth $418,485,000 after purchasing an additional 61,138 shares in the last quarter. Vanguard Group Inc. increased its holdings in Bio-Techne Corp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock worth $357,489,000 after purchasing an additional 36,768 shares in the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Bio-Techne Corp by 0.7% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock worth $230,405,000 after purchasing an additional 14,291 shares in the last quarter. Janus Henderson Group PLC increased its holdings 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 in the last quarter. Finally, State Street Corp increased its holdings in Bio-Techne Corp by 0.5% in the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock worth $116,891,000 after purchasing an additional 5,078 shares in the last quarter. 98.70% of the stock is owned by institutional investors and hedge funds.
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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