Bio-Techne (NASDAQ:TECH) Price Target Increased to $81.00 by Analysts at Robert W. Baird

Bio-Techne (NASDAQ:TECH) had its price objective lifted by Robert W. Baird from $73.00 to $81.00 in a research report sent to investors on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the company. Scotiabank began coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a sector outperform rating and a $80.00 price target for the company. Stephens decreased their target price on shares of Bio-Techne from $92.00 to $87.00 and set an overweight rating for the company in a research note on Friday, February 2nd. Stifel Nicolaus lowered shares of Bio-Techne from a buy rating to a hold rating and set a $65.00 price target on the stock. in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Bio-Techne from $85.00 to $82.00 and set a buy rating for the company in a research note on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price target on Bio-Techne from $85.00 to $75.00 and set a sector perform rating for the company in a report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $80.50.

Bio-Techne Stock Up 2.2 %

Shares of TECH traded up $1.69 during mid-day trading on Thursday, hitting $77.29. 1,509,857 shares of the company’s stock were exchanged, compared to its average volume of 1,225,112. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 3.03. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $89.91. The company has a market cap of $12.15 billion, a PE ratio of 61.34, a P/E/G ratio of 9.41 and a beta of 1.23. The company has a 50-day simple moving average of $69.76 and a 200 day simple moving average of $68.55.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts forecast that Bio-Techne will post 1.52 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, May 10th. Bio-Techne’s dividend payout ratio is currently 25.40%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the transaction, the director now directly owns 43,097 shares of the company’s stock, valued at $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TECH. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bio-Techne in the 3rd quarter valued at $27,000. CVA Family Office LLC purchased a new stake in shares of Bio-Techne in the fourth quarter valued at about $31,000. Mather Group LLC. bought a new position in shares of Bio-Techne during the first quarter valued at about $38,000. First Horizon Advisors Inc. boosted its holdings in Bio-Techne by 57.9% during the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 191 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in Bio-Techne in the 1st quarter worth about $43,000. Institutional investors own 98.95% of the company’s stock.

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.