BIO-TECHNE Corp (NASDAQ:TECH) has been assigned a consensus rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $145.00.
A number of brokerages have commented on TECH. Leerink Swann restated a “buy” rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Zacks Investment Research downgraded BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird reiterated a “buy” rating and set a $154.00 price target on shares of BIO-TECHNE in a research note on Thursday, January 18th. BidaskClub downgraded BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Citigroup reiterated a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of BIO-TECHNE in a research note on Tuesday, October 24th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bamco Inc. NY boosted its stake in shares of BIO-TECHNE by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock worth $183,780,000 after acquiring an additional 20,286 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of BIO-TECHNE by 51.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock worth $38,455,000 after acquiring an additional 111,629 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of BIO-TECHNE during the 3rd quarter worth about $390,000. Magnetar Financial LLC lifted its position in shares of BIO-TECHNE by 78.0% during the 3rd quarter. Magnetar Financial LLC now owns 10,976 shares of the biotechnology company’s stock worth $1,327,000 after purchasing an additional 4,811 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of BIO-TECHNE during the 2nd quarter worth about $531,000. Institutional investors own 96.07% of the company’s stock.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 EPS for the quarter, beating 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 the consensus estimate of $145.93 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. equities research analysts forecast that BIO-TECHNE will post 3.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. BIO-TECHNE’s dividend payout ratio (DPR) is presently 41.97%.
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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