Shares of Bio-Techne Co. (NASDAQ:TECH - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $86.57.
Several research firms have weighed in on TECH. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. KeyCorp lifted their target price on Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. 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 note on Thursday, October 31st. Scotiabank lifted 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. Finally, Royal Bank of Canada lifted their target price 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.
View Our Latest Stock Report on TECH
Insider Buying and Selling
In related news, CEO Kim Kelderman sold 13,392 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.90% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of TECH. Norges Bank acquired a new position in shares of Bio-Techne in the fourth quarter valued at $137,301,000. Price T Rowe Associates Inc. MD raised its stake in shares of Bio-Techne by 13.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,654,267 shares of the biotechnology company's stock valued at $767,428,000 after purchasing an additional 1,229,954 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Bio-Techne in the third quarter valued at $89,724,000. Raymond James Financial Inc. acquired a new position in shares of Bio-Techne in the fourth quarter valued at $44,479,000. Finally, Freestone Grove Partners LP acquired a new position in Bio-Techne during the fourth quarter worth $30,047,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.
Bio-Techne Trading Down 1.2 %
TECH traded down $0.83 during trading on Thursday, reaching $65.94. The company had a trading volume of 1,172,566 shares, compared to its average volume of 1,235,146. The firm's 50-day simple moving average is $73.82 and its 200 day simple moving average is $73.90. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 5.54 and a beta of 1.27. Bio-Techne has a 12-month low of $61.16 and a 12-month high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 3.94.
Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. Equities research analysts anticipate that Bio-Techne will post 1.68 earnings per share for the current year.
Bio-Techne Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. Bio-Techne's dividend payout ratio is 32.32%.
Bio-Techne Company Profile
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Get Free ReportBio-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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