Bio-Techne Co. (NASDAQ:TECH) Given Consensus Rating of “Moderate Buy” by Analysts

Bio-Techne Co. (NASDAQ:TECH) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $82.00.

TECH has been the subject of several analyst reports. Scotiabank raised their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st.

Bio-Techne Price Performance

Shares of TECH opened at $72.98 on Wednesday. The business has a 50-day simple moving average of $73.42 and a two-hundred day simple moving average of $74.27. Bio-Techne has a 12-month low of $61.16 and a 12-month high of $85.57. The stock has a market cap of $11.60 billion, a PE ratio of 77.64, a PEG ratio of 5.52 and a beta of 1.27. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million during the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $0.35 EPS. Analysts anticipate that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Bio-Techne by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 261,900 shares of the biotechnology company’s stock valued at $20,934,000 after purchasing an additional 1,843 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Bio-Techne in the 3rd quarter worth about $1,188,000. Synovus Financial Corp grew its position in Bio-Techne by 1.5% during the third quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company’s stock valued at $1,057,000 after buying an additional 198 shares during the period. Tidal Investments LLC increased its holdings in Bio-Techne by 17.7% during the third quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company’s stock worth $2,313,000 after buying an additional 4,356 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in Bio-Techne by 55.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company’s stock worth $372,000 after acquiring an additional 1,656 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

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.