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

StockNews.com upgraded shares of Bio-Techne (NASDAQ:TECH) from a hold rating to a buy rating in a report issued on Friday.

TECH has been the subject of several other research reports. KeyCorp increased their price objective on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price target on Bio-Techne from $79.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Evercore ISI started coverage on Bio-Techne in a report on Tuesday, March 18th. They issued an “outperform” rating and a $75.00 price target on the stock. Citigroup decreased their price objective on Bio-Techne from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Scotiabank boosted their target price on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $81.25.

Bio-Techne Stock Performance

TECH stock opened at $51.72 on Friday. Bio-Techne has a 1-year low of $50.35 and a 1-year high of $85.57. The company has a current ratio of 3.94, a quick ratio of 2.77 and a debt-to-equity ratio of 0.14. The firm has a market cap of $8.18 billion, a PE ratio of 52.24, a P/E/G ratio of 2.88 and a beta of 1.30. The business’s 50-day moving average price is $64.44 and its two-hundred day moving average price is $70.78.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. As a group, research analysts forecast that Bio-Techne will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 17th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, February 14th. Bio-Techne’s dividend payout ratio is currently 32.32%.

Insider Activity at Bio-Techne

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

Institutional Investors Weigh In On Bio-Techne

Several hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its holdings in shares of 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 last quarter. Itau Unibanco Holding S.A. acquired a new position in Bio-Techne in the 4th quarter valued at about $41,000. GeoWealth Management LLC acquired a new position in Bio-Techne in the 4th quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB raised its holdings in Bio-Techne by 60.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 253 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Bio-Techne by 35.0% during the fourth quarter. Versant Capital Management Inc now owns 763 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 198 shares during the period. Institutional investors and hedge funds 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.