Citigroup Cuts Bio-Techne (NASDAQ:TECH) Price Target to $70.00

Bio-Techne (NASDAQ:TECH) had its price objective decreased by analysts at Citigroup from $80.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price target indicates a potential upside of 12.54% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird cut shares of Bio-Techne from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $88.00 to $68.00 in a research report on Wednesday, February 19th. Baird R W downgraded shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Scotiabank increased their target price on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a report on Thursday, February 6th. Finally, KeyCorp raised their target price on Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average price target of $82.14.

Bio-Techne Price Performance

Shares of Bio-Techne stock opened at $62.20 on Tuesday. The firm has a market cap of $9.83 billion, a PE ratio of 62.83, a P/E/G ratio of 2.88 and a beta of 1.27. Bio-Techne has a twelve month low of $58.98 and a twelve month high of $85.57. The company has a quick ratio of 2.77, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $71.20 and a 200 day moving average price of $72.89.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. Sell-side analysts predict that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Insider Activity at Bio-Techne

In other news, Director Amy E. Herr sold 1,860 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $65.96, for a total value of $122,685.60. Following the completion of the sale, the director now owns 1,976 shares of the company’s stock, valued at $130,336.96. This represents a 48.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kim Kelderman sold 13,392 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This represents a 25.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TECH. UMB Bank n.a. raised its position in Bio-Techne by 46.4% in the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 168 shares during the period. Brooklyn Investment Group purchased a new stake in Bio-Techne in the 3rd quarter valued at about $39,000. Itau Unibanco Holding S.A. acquired a new position in Bio-Techne in the fourth quarter valued at about $41,000. Quest Partners LLC acquired a new position in Bio-Techne in the third quarter valued at about $43,000. Finally, GeoWealth Management LLC purchased a new position in Bio-Techne during the fourth quarter worth about $43,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

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.