Bio-Techne (NASDAQ:TECH) Upgraded to Buy at StockNews.com

Bio-Techne (NASDAQ:TECHGet Rating) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

TECH has been the topic of several other research reports. Wells Fargo & Company dropped their price objective on Bio-Techne from $370.00 to $360.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 16th. Credit Suisse Group began coverage on Bio-Techne in a research note on Wednesday, August 24th. They issued an “outperform” rating and a $465.00 price target on the stock. Robert W. Baird reduced their price objective on shares of Bio-Techne from $500.00 to $470.00 in a research report on Friday, August 5th. Finally, Stephens dropped their price objective on shares of Bio-Techne from $500.00 to $480.00 and set an “overweight” rating on the stock in a research report on Friday, August 5th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne presently has a consensus rating of “Moderate Buy” and an average target price of $475.00.

Bio-Techne Trading Up 1.2 %

Shares of Bio-Techne stock opened at $346.78 on Friday. Bio-Techne has a 12-month low of $318.07 and a 12-month high of $543.85. The company has a quick ratio of 2.64, a current ratio of 3.44 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $358.51 and its 200-day moving average is $378.32. The stock has a market cap of $13.60 billion, a P/E ratio of 52.38, a P/E/G ratio of 1.85 and a beta of 1.25.

Bio-Techne (NASDAQ:TECHGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.03). The firm had revenue of $288.30 million during the quarter, compared to analyst estimates of $287.04 million. Bio-Techne had a net margin of 24.61% and a return on equity of 16.97%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 EPS. Equities research analysts predict that Bio-Techne will post 7.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bio-Techne news, Director John L. Higgins sold 1,992 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $377.11, for a total value of $751,203.12. Following the completion of the sale, the director now owns 6,014 shares of the company’s stock, valued at approximately $2,267,939.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Bio-Techne

Large investors have recently added to or reduced their stakes in the stock. Tcwp LLC acquired a new stake in shares of Bio-Techne during the 1st quarter worth $25,000. Confluence Wealth Services Inc. bought a new position in Bio-Techne in the 4th quarter valued at about $33,000. UMB Bank N A MO acquired a new position in shares of Bio-Techne in the 4th quarter valued at approximately $53,000. Ellevest Inc. increased its stake in Bio-Techne by 56.5% in the first quarter. Ellevest Inc. now owns 108 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 39 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its position in Bio-Techne by 162.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 126 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.

Bio-Techne Company Profile

(Get Rating)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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