BIO-TECHNE Corp (NASDAQ:TECH) Receives $198.50 Consensus Target Price from Analysts

BIO-TECHNE Corp (NASDAQ:TECH) has received an average rating of “Hold” from the nine ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $198.50.

Several equities analysts have commented on the company. Janney Montgomery Scott raised BIO-TECHNE from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $270.00 in a research report on Tuesday, July 2nd. ValuEngine lowered BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered BIO-TECHNE from a “buy” rating to a “sell” rating in a research report on Tuesday, August 13th. BidaskClub lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, TheStreet lowered BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th.

In other news, SVP Brenda S. Furlow sold 5,400 shares of BIO-TECHNE stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $200.00, for a total value of $1,080,000.00. Following the completion of the transaction, the senior vice president now owns 7,589 shares of the company’s stock, valued at approximately $1,517,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert V. Baumgartner purchased 500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $191.06 per share, with a total value of $95,530.00. Following the transaction, the director now owns 8,726 shares in the company, valued at $1,667,189.56. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 46,548 shares of company stock valued at $9,790,896. 3.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of BIO-TECHNE by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 416,496 shares of the biotechnology company’s stock worth $60,275,000 after buying an additional 27,587 shares during the period. Nisa Investment Advisors LLC raised its stake in BIO-TECHNE by 0.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 18,150 shares of the biotechnology company’s stock worth $3,604,000 after purchasing an additional 100 shares in the last quarter. Oakbrook Investments LLC raised its stake in BIO-TECHNE by 5.8% in the 1st quarter. Oakbrook Investments LLC now owns 4,525 shares of the biotechnology company’s stock worth $898,000 after purchasing an additional 250 shares in the last quarter. Brookstone Capital Management acquired a new stake in BIO-TECHNE in the 1st quarter worth about $520,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in BIO-TECHNE in the 1st quarter worth about $54,000. 91.87% of the stock is owned by hedge funds and other institutional investors.

BIO-TECHNE stock traded up $1.27 on Friday, hitting $193.86. 1,722 shares of the stock traded hands, compared to its average volume of 175,824. The company has a current ratio of 4.05, a quick ratio of 3.15 and a debt-to-equity ratio of 0.42. The firm has a market cap of $7.48 billion, a P/E ratio of 50.92, a price-to-earnings-growth ratio of 4.24 and a beta of 1.17. The business’s fifty day simple moving average is $206.06 and its 200 day simple moving average is $199.75. BIO-TECHNE has a 1 year low of $132.75 and a 1 year high of $217.15.

BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.17 by $0.08. The business had revenue of $191.66 million during the quarter, compared to analyst estimates of $196.37 million. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 earnings per share. As a group, analysts predict that BIO-TECHNE will post 4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, August 15th. BIO-TECHNE’s dividend payout ratio is presently 33.68%.

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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Analyst Recommendations for BIO-TECHNE (NASDAQ:TECH)

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