Bio-Techne Co. (NASDAQ:TECH) Given Average Recommendation of “Moderate Buy” by Analysts

Bio-Techne Co. (NASDAQ:TECH) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $82.00.

TECH has been the topic of several analyst reports. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank lifted their target price on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st.

Institutional Trading of Bio-Techne

Hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Bio-Techne in the second quarter valued at $25,000. Brooklyn Investment Group bought a new stake in shares of Bio-Techne during the 3rd quarter valued at $39,000. UMB Bank n.a. raised its stake in shares of Bio-Techne by 46.4% during the 4th 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. Quest Partners LLC bought a new stake in shares of Bio-Techne during the 3rd quarter valued at $43,000. Finally, Mather Group LLC. raised its stake in shares of Bio-Techne by 51.5% during the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 208 shares during the period. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Trading Down 0.4 %

Shares of Bio-Techne stock opened at $75.83 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne has a 52 week low of $61.16 and a 52 week high of $85.57. The stock has a 50 day moving average price of $73.78 and a two-hundred day moving average price of $74.32. The stock has a market capitalization of $12.05 billion, a PE ratio of 80.67, a price-to-earnings-growth ratio of 5.40 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm had revenue of $289.46 million during the quarter, compared to analysts’ expectations of $280.22 million. During the same quarter last year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Bio-Techne’s payout ratio is presently 34.04%.

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.