BIO-TECHNE Corp (TECH) Given Consensus Rating of “Buy” by Brokerages

BIO-TECHNE Corp (NASDAQ:TECH) has earned a consensus recommendation of “Buy” from the eleven research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $189.13.

A number of equities research analysts have weighed in on TECH shares. Zacks Investment Research raised shares of BIO-TECHNE from a “hold” rating to a “strong-buy” rating and set a $238.00 target price on the stock in a report on Wednesday, May 8th. ValuEngine lowered shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. BidaskClub raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Craig Hallum reissued a “hold” rating and set a $179.00 target price (up from $154.00) on shares of BIO-TECHNE in a report on Tuesday, February 5th. Finally, Argus reissued a “buy” rating on shares of BIO-TECHNE in a report on Monday, March 4th.

In other news, CFO James Hippel sold 35,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $203.08, for a total value of $7,107,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TECH. Norges Bank bought a new position in BIO-TECHNE during the fourth quarter worth $70,995,000. Wellington Management Group LLP boosted its stake in BIO-TECHNE by 20.0% during the first quarter. Wellington Management Group LLP now owns 1,543,356 shares of the biotechnology company’s stock worth $306,433,000 after acquiring an additional 256,824 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in BIO-TECHNE by 18.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 803,633 shares of the biotechnology company’s stock worth $116,303,000 after acquiring an additional 125,665 shares in the last quarter. American Century Companies Inc. raised its holdings in BIO-TECHNE by 331.1% during the fourth quarter. American Century Companies Inc. now owns 156,965 shares of the biotechnology company’s stock worth $22,716,000 after buying an additional 120,557 shares during the last quarter. Finally, Ellis Investment Partners LLC acquired a new position in BIO-TECHNE during the first quarter worth $119,000. 94.00% of the stock is currently owned by institutional investors and hedge funds.

TECH stock traded down $1.71 during trading on Friday, reaching $195.69. 6,921 shares of the company were exchanged, compared to its average volume of 174,953. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 48.04, a P/E/G ratio of 4.16 and a beta of 1.24. BIO-TECHNE has a twelve month low of $132.75 and a twelve month high of $207.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.32 and a quick ratio of 3.36.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, April 30th. The biotechnology company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.27. The business had revenue of $184.86 million during the quarter, compared to analysts’ expectations of $183.92 million. BIO-TECHNE had a net margin of 17.15% and a return on equity of 13.53%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. On average, equities research analysts anticipate that BIO-TECHNE will post 3.9 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, May 9th. BIO-TECHNE’s dividend payout ratio is currently 31.45%.

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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