Bio-Techne Co. (NASDAQ:TECH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Bio-Techne Co. (NASDAQ:TECH) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $80.60.

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Robert W. Baird lifted their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reduced their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th.

Bio-Techne Stock Down 2.6 %

Bio-Techne stock opened at $78.30 on Monday. The company’s 50-day moving average price is $75.25 and its two-hundred day moving average price is $73.98. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The stock has a market cap of $12.34 billion, a P/E ratio of 62.14, a P/E/G ratio of 5.06 and a beta of 1.27. Bio-Techne has a twelve month low of $51.79 and a twelve month high of $85.57.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The company had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. As a group, analysts expect that Bio-Techne will post 1.71 EPS for the current year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, August 19th. Bio-Techne’s dividend payout ratio is presently 25.40%.

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently made changes to their positions in TECH. Sanctuary Advisors LLC acquired a new stake in Bio-Techne in the second quarter valued at approximately $564,000. Quarry LP lifted its stake in shares of Bio-Techne by 2,275.6% in the 2nd quarter. Quarry LP now owns 974 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 933 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bio-Techne by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock valued at $137,000 after acquiring an additional 205 shares in the last quarter. Creative Planning grew its position in Bio-Techne by 4.4% during the 2nd quarter. Creative Planning now owns 33,942 shares of the biotechnology company’s stock worth $2,432,000 after acquiring an additional 1,437 shares during the last quarter. Finally, Peloton Wealth Strategists increased its holdings in Bio-Techne by 53.3% in the 2nd quarter. Peloton Wealth Strategists now owns 4,600 shares of the biotechnology company’s stock worth $330,000 after purchasing an additional 1,600 shares in 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.