Bio-Techne (TECH) Stock Rating Lowered by BidaskClub
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.
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.
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