BIO-TECHNE (TECH) Lifted to Buy at Zacks Investment Research

BIO-TECHNE (NASDAQ:TECH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $148.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.79% 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. “

Other analysts have also recently issued reports about the company. Deutsche Bank set a $145.00 price target on BIO-TECHNE and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Citigroup reaffirmed a “buy” rating and issued a $115.00 price objective (down from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Craig Hallum reaffirmed a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of BIO-TECHNE in a research report on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $154.00 price objective on shares of BIO-TECHNE in a research report on Thursday, January 18th. Finally, BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $145.00.

Shares of BIO-TECHNE (TECH) traded up $1.63 on Friday, hitting $133.59. The stock had a trading volume of 189,986 shares, compared to its average volume of 179,107. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.25 and a current ratio of 3.10. BIO-TECHNE has a 12-month low of $98.22 and a 12-month high of $143.64. The company has a market cap of $4,945.07, a PE ratio of 43.80, a P/E/G ratio of 2.45 and a beta of 0.78.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The firm had revenue of $154.15 million for the quarter, compared to analysts’ expectations of $145.93 million. During the same period in the previous year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. sell-side analysts forecast that BIO-TECHNE will post 3.93 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC lifted its position in BIO-TECHNE by 28.8% in the 4th quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock valued at $53,988,000 after acquiring an additional 93,175 shares in the last quarter. American International Group Inc. lifted its position in BIO-TECHNE by 1.6% in the 4th quarter. American International Group Inc. now owns 77,603 shares of the biotechnology company’s stock valued at $10,053,000 after acquiring an additional 1,228 shares in the last quarter. Virtus Fund Advisers LLC lifted its position in BIO-TECHNE by 71.0% in the 4th quarter. Virtus Fund Advisers LLC now owns 2,324 shares of the biotechnology company’s stock valued at $301,000 after acquiring an additional 965 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of BIO-TECHNE by 27.6% during the 4th quarter. Arizona State Retirement System now owns 26,966 shares of the biotechnology company’s stock valued at $3,493,000 after buying an additional 5,833 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in shares of BIO-TECHNE by 1.5% during the 4th quarter. Eagle Asset Management Inc. now owns 56,837 shares of the biotechnology company’s stock valued at $7,444,000 after buying an additional 842 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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About BIO-TECHNE

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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