Bio-Techne (NASDAQ:TECH) Stock Rating Upgraded by StockNews.com

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

A number of other brokerages have also recently commented on TECH. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Robert W. Baird raised their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday. Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Royal Bank of Canada reduced their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.60.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded up $1.56 during trading on Friday, hitting $75.31. The company’s stock had a trading volume of 983,810 shares, compared to its average volume of 1,019,940. The company has a 50-day moving average of $73.69 and a 200-day moving average of $74.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 2.75. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 80.12, a P/E/G ratio of 5.49 and a beta of 1.27. Bio-Techne has a 12 month low of $52.99 and a 12 month high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. On average, sell-side analysts expect that Bio-Techne will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently made changes to their positions in TECH. Wealth Enhancement Advisory Services LLC increased its stake in Bio-Techne by 11.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,978 shares of the biotechnology company’s stock worth $1,969,000 after acquiring an additional 2,913 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Bio-Techne by 25.7% during the first quarter. Commonwealth Equity Services LLC now owns 18,440 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 3,775 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Bio-Techne by 29.1% in the 1st quarter. Private Advisor Group LLC now owns 10,031 shares of the biotechnology company’s stock worth $706,000 after buying an additional 2,259 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bio-Techne by 97.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,181 shares of the biotechnology company’s stock valued at $9,959,000 after buying an additional 68,813 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Bio-Techne by 51.5% during the 1st quarter. BNP Paribas Financial Markets now owns 216,174 shares of the biotechnology company’s stock valued at $15,216,000 after buying an additional 73,453 shares in the last quarter. 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.