Bio-Techne’s (TECH) “Buy” Rating Reaffirmed at Leerink Swann
Bio-Techne (NASDAQ:TECH)‘s stock had its “buy” rating restated by research analysts at Leerink Swann in a note issued to investors on Tuesday.
Several other equities research analysts also recently weighed in on TECH. BidaskClub downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Deutsche Bank raised their price target on shares of Bio-Techne from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Citigroup reissued a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Bio-Techne in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Bio-Techne has an average rating of “Buy” and an average price target of $134.33.
Shares of Bio-Techne (NASDAQ:TECH) traded down $3.38 during midday trading on Tuesday, hitting $129.81. 214,500 shares of the company’s stock were exchanged, compared to its average volume of 166,744. Bio-Techne has a fifty-two week low of $95.68 and a fifty-two week high of $136.39. The company has a market capitalization of $4,989.59, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 3.32 and a beta of 0.75. The company has a quick ratio of 2.25, a current ratio of 2.87 and a debt-to-equity ratio of 0.35.
In related news, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen A. Holbrook sold 1,059 shares of the firm’s 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 sale, 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 6,259 shares of company stock valued at $804,102 in the last three months. 3.40% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bio-Techne by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 163 shares during the last quarter. Zions Bancorporation purchased a new stake in Bio-Techne in the third quarter worth approximately $178,000. Flinton Capital Management LLC boosted its holdings in Bio-Techne by 84.8% in the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock worth $229,000 after purchasing an additional 896 shares during the last quarter. Turner Investments LLC purchased a new stake in Bio-Techne in the third quarter worth approximately $242,000. Finally, Koch Industries Inc. purchased a new stake in Bio-Techne in the second quarter worth approximately $286,000. Institutional investors own 97.03% of the company’s stock.
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Bio-Techne Company Profile
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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