Bio-Techne (NASDAQ:TECH) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank began coverage on shares of Bio-Techne (NASDAQ:TECHFree Report) in a research report sent to investors on Thursday, Briefing.com reports. The firm issued a sector outperform rating and a $80.00 price target on the biotechnology company’s stock.

A number of other analysts have also weighed in on the company. UBS Group began coverage on Bio-Techne in a research note on Thursday, December 7th. They issued a buy rating and a $80.00 target price for the company. Royal Bank of Canada lowered their price objective on Bio-Techne from $85.00 to $75.00 and set a sector perform rating for the company in a research report on Friday, February 2nd. StockNews.com lowered Bio-Techne from a buy rating to a hold rating in a research report on Saturday, November 4th. Citigroup lowered their price objective on Bio-Techne from $100.00 to $80.00 and set a buy rating for the company in a research report on Wednesday, November 1st. Finally, Stephens lowered their price objective on Bio-Techne from $92.00 to $87.00 and set an overweight rating for the company in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $84.11.

Check Out Our Latest Research Report on Bio-Techne

Bio-Techne Stock Performance

Shares of NASDAQ:TECH opened at $66.36 on Thursday. Bio-Techne has a twelve month low of $51.79 and a twelve month high of $89.91. The firm has a market cap of $10.49 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 6.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.03 and a current ratio of 4.37. The business has a fifty day moving average of $71.86 and a 200-day moving average of $71.15.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Friday, February 9th. Bio-Techne’s dividend payout ratio (DPR) is presently 23.19%.

Hedge Funds Weigh In On Bio-Techne

Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Bio-Techne during the 1st quarter valued at about $56,000. Harbour Investments Inc. lifted its stake in Bio-Techne by 305.0% in the 4th quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 244 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Bio-Techne in the 2nd quarter valued at approximately $27,000. Huntington National Bank lifted its stake in Bio-Techne by 124.7% in the 2nd quarter. Huntington National Bank now owns 337 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 187 shares in the last quarter. Finally, Resurgent Financial Advisors LLC bought a new stake in Bio-Techne in the 4th quarter valued at approximately $29,000. Institutional investors own 94.64% of the company’s stock.

Bio-Techne Company Profile

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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.

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Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

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