Deutsche Bank Aktiengesellschaft Lowers Bio-Techne (NASDAQ:TECH) Price Target to $82.00

Bio-Techne (NASDAQ:TECH) had its price target dropped by Deutsche Bank Aktiengesellschaft from $85.00 to $82.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 32.00% from the stock’s current price.

Several other research firms have also recently weighed in on TECH. Stifel Nicolaus cut shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Friday, February 2nd. Scotiabank initiated coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price for the company. Royal Bank of Canada decreased their target price on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Finally, Stephens decreased their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.90.

Bio-Techne Price Performance

NASDAQ TECH opened at $62.12 on Thursday. The company has a quick ratio of 3.03, a current ratio of 4.37 and a debt-to-equity ratio of 0.23. Bio-Techne has a 12-month low of $51.79 and a 12-month high of $89.91. The company has a market capitalization of $9.76 billion, a PE ratio of 45.01, a price-to-earnings-growth ratio of 7.09 and a beta of 1.22. The firm’s 50 day moving average is $70.50 and its 200-day moving average is $68.62.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Thursday, February 1st. The biotechnology company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The business had revenue of $272.60 million during the quarter, compared to analyst estimates of $277.48 million. Equities research analysts anticipate that Bio-Techne will post 1.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.45% of the company’s stock.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors have recently modified their holdings of TECH. Select Equity Group L.P. boosted its position in shares of Bio-Techne by 382.9% in the fourth quarter. Select Equity Group L.P. now owns 7,153,947 shares of the biotechnology company’s stock valued at $592,919,000 after acquiring an additional 5,672,587 shares during the period. Morgan Stanley raised its stake in Bio-Techne by 1,300.4% in the fourth quarter. Morgan Stanley now owns 2,982,630 shares of the biotechnology company’s stock valued at $247,200,000 after purchasing an additional 2,769,642 shares in the last quarter. Norges Bank acquired a new position in Bio-Techne in the fourth quarter valued at about $136,489,000. Mackenzie Financial Corp raised its stake in Bio-Techne by 330.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,767,115 shares of the biotechnology company’s stock valued at $146,458,000 after purchasing an additional 1,356,899 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Bio-Techne by 268.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,069,311 shares of the biotechnology company’s stock valued at $88,624,000 after purchasing an additional 779,246 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.