Bio-Techne (NASDAQ:TECH) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other analysts have also recently weighed in on TECH. Deutsche Bank upped their price target on Bio-Techne from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research cut Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Citigroup reiterated a “buy” rating and issued a $115.00 price target (down 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 company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $134.33.

Shares of Bio-Techne (NASDAQ TECH) traded down $0.14 during trading hours on Tuesday, reaching $128.76. The company’s stock had a trading volume of 273,076 shares, compared to its average volume of 146,902. Bio-Techne has a 52-week low of $95.68 and a 52-week high of $136.39. The company has a market capitalization of $4,823.61, a PE ratio of 37.11, a price-to-earnings-growth ratio of 3.21 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.

Bio-Techne (NASDAQ:TECH) last announced its quarterly 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. Bio-Techne had a return on equity of 14.11% and a net margin of 12.54%. The firm had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. During the same period in the prior year, the business posted $0.84 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. equities research analysts forecast that Bio-Techne will post 3.76 earnings per share for the current fiscal year.

In other Bio-Techne 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 value of $650,900.00. Following the transaction, the director now owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.40% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Bio-Techne by 1.7% in the second 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. lifted its stake in shares of Bio-Techne by 1.2% during the second quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after acquiring an additional 36,768 shares during the period. Atlanta Capital Management Co. L L C lifted its stake in shares of Bio-Techne by 0.7% during the second quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after acquiring an additional 14,291 shares during the period. Bamco Inc. NY lifted its stake in shares of Bio-Techne by 1.4% during the third quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after acquiring an additional 20,286 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Bio-Techne by 334.3% during the second quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after acquiring an additional 914,554 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

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