KeyCorp Raises Bio-Techne (NASDAQ:TECH) Price Target to $90.00

Bio-Techne (NASDAQ:TECH) had its price target hoisted by equities researchers at KeyCorp from $80.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. KeyCorp’s target price would indicate a potential upside of 21.37% from the stock’s current price.

TECH has been the topic of several other research reports. Scotiabank raised their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird raised their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.86.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded down $1.10 during trading on Thursday, reaching $74.16. The stock had a trading volume of 93,684 shares, compared to its average volume of 1,074,115. Bio-Techne has a 52 week low of $61.16 and a 52 week high of $85.57. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 79.18, a P/E/G ratio of 5.42 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. The stock has a fifty day simple moving average of $74.62 and a two-hundred day simple moving average of $74.37.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. As a group, analysts anticipate that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Bio-Techne

Several institutional investors have recently modified their holdings of TECH. Brooklyn Investment Group acquired a new position in shares of Bio-Techne in the 3rd quarter valued at approximately $39,000. UMB Bank n.a. grew its position in shares of Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 168 shares during the period. Quest Partners LLC acquired a new position in shares of Bio-Techne in the 3rd quarter valued at approximately $43,000. Mather Group LLC. boosted its position in Bio-Techne by 51.5% during the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 208 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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.