BIO-TECHNE (NASDAQ:TECH) Downgraded by ValuEngine

ValuEngine lowered shares of BIO-TECHNE (NASDAQ:TECH) from a strong-buy rating to a buy rating in a research note released on Thursday morning, ValuEngine reports.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of BIO-TECHNE from a hold rating to a buy rating and set a $243.00 price objective for the company in a research report on Saturday, July 6th. BidaskClub cut shares of BIO-TECHNE from a buy rating to a hold rating in a research report on Saturday, July 13th. Finally, Janney Montgomery Scott raised shares of BIO-TECHNE from a neutral rating to a buy rating and increased their price objective for the stock from $200.00 to $270.00 in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. BIO-TECHNE has an average rating of Buy and an average target price of $205.89.

Shares of BIO-TECHNE stock traded down $4.27 during mid-day trading on Thursday, hitting $201.75. The stock had a trading volume of 2,105 shares, compared to its average volume of 132,274. The firm’s 50-day simple moving average is $210.54. BIO-TECHNE has a 12-month low of $132.75 and a 12-month high of $217.15. The company has a current ratio of 4.32, a quick ratio of 3.36 and a debt-to-equity ratio of 0.44. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 49.52, a P/E/G ratio of 3.75 and a beta of 1.17.

In other BIO-TECHNE news, SVP Norman David Eansor sold 3,117 shares of BIO-TECHNE stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $215.00, for a total transaction of $670,155.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brenda S. Furlow sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,080,000.00. Following the completion of the transaction, the senior vice president now directly owns 7,589 shares of the company’s stock, valued at approximately $1,517,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,548 shares of company stock worth $9,790,896. Insiders own 3.80% of the company’s stock.

Several large investors have recently bought and sold shares of TECH. Swiss National Bank raised its holdings in BIO-TECHNE by 3.0% in the first quarter. Swiss National Bank now owns 68,811 shares of the biotechnology company’s stock valued at $13,662,000 after acquiring an additional 2,000 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of BIO-TECHNE by 19.4% during the first quarter. Rehmann Capital Advisory Group now owns 609 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 99 shares during the period. California State Teachers Retirement System raised its holdings in shares of BIO-TECHNE by 0.4% during the first quarter. California State Teachers Retirement System now owns 58,833 shares of the biotechnology company’s stock worth $11,681,000 after purchasing an additional 258 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of BIO-TECHNE during the second quarter worth $225,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of BIO-TECHNE by 502.1% during the first quarter. Quadrant Capital Group LLC now owns 283 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 236 shares during the period. 92.25% of the stock is owned by institutional investors and hedge funds.

BIO-TECHNE Company Profile

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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Analyst Recommendations for BIO-TECHNE (NASDAQ:TECH)

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