BIO-TECHNE (TECH) Raised to Overweight at Stephens

BIO-TECHNE (NASDAQ:TECH) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, The Fly reports.

Several other equities analysts have also issued reports on TECH. Zacks Investment Research lowered BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Argus upped their price target on BIO-TECHNE from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub lowered BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Goldman Sachs Group started coverage on BIO-TECHNE in a research note on Wednesday, October 17th. They set a “neutral” rating and a $190.00 price target on the stock. Finally, Craig Hallum lowered BIO-TECHNE from a “buy” rating to a “hold” rating and cut their price target for the company from $215.00 to $154.00 in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. BIO-TECHNE currently has an average rating of “Hold” and a consensus price target of $181.00.

Shares of TECH stock opened at $157.77 on Monday. The company has a current ratio of 4.59, a quick ratio of 3.50 and a debt-to-equity ratio of 0.49. The firm has a market cap of $5.63 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. BIO-TECHNE has a 52 week low of $128.06 and a 52 week high of $206.04.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The business had revenue of $163.00 million for the quarter, compared to analyst estimates of $162.34 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts predict that BIO-TECHNE will post 3.79 EPS for the current year.

Several large investors have recently bought and sold shares of TECH. Dimensional Fund Advisors LP grew its holdings in shares of BIO-TECHNE by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 212,609 shares of the biotechnology company’s stock worth $31,455,000 after buying an additional 2,029 shares in the last quarter. AMP Capital Investors Ltd bought a new position in shares of BIO-TECHNE during the second quarter worth about $355,000. Raymond James & Associates grew its holdings in shares of BIO-TECHNE by 73.9% during the second quarter. Raymond James & Associates now owns 24,926 shares of the biotechnology company’s stock worth $3,688,000 after buying an additional 10,595 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in BIO-TECHNE by 134.1% in the second quarter. Cubist Systematic Strategies LLC now owns 8,873 shares of the biotechnology company’s stock valued at $1,313,000 after purchasing an additional 5,083 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in BIO-TECHNE by 9.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,604 shares of the biotechnology company’s stock valued at $533,000 after purchasing an additional 299 shares in the last quarter. Institutional investors and hedge funds own 93.59% of the company’s stock.

About BIO-TECHNE

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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