Bio-Techne Co. (NASDAQ:TECH) Receives $82.14 Average PT from Brokerages

Bio-Techne Co. (NASDAQ:TECH - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eight analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $82.14.

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Monday. KeyCorp raised their price objective on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Robert W. Baird downgraded Bio-Techne from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $88.00 to $68.00 in a research report on Wednesday, February 19th. Finally, 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.

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Bio-Techne Trading Down 0.6 %

NASDAQ:TECH traded down $0.36 during mid-day trading on Monday, hitting $59.88. 2,636,250 shares of the stock traded hands, compared to its average volume of 1,066,782. 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 stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 60.48, a PEG ratio of 2.88 and a beta of 1.30. Bio-Techne has a 52 week low of $56.60 and a 52 week high of $85.57. The firm's 50 day moving average is $69.92 and its two-hundred day moving average is $72.43.

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 the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%. On average, equities research analysts predict that Bio-Techne will post 1.67 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 17th were paid a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 0.53%. Bio-Techne's dividend payout ratio (DPR) is presently 32.32%.

Insiders Place Their Bets

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction on 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 transaction, the chief executive officer now directly owns 39,004 shares of the company's stock, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy E. Herr sold 1,860 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 1,976 shares of the company's stock, valued at $130,336.96. The trade was a 48.49 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TECH. Brooklyn Investment Group purchased a new stake in shares of Bio-Techne during the third quarter worth about $39,000. UMB Bank n.a. grew its position in Bio-Techne by 46.4% during the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 168 shares during the last quarter. Quest Partners LLC acquired a new position in Bio-Techne during the 3rd quarter valued at approximately $43,000. Itau Unibanco Holding S.A. purchased a new position in shares of Bio-Techne in the fourth quarter worth $41,000. Finally, GeoWealth Management LLC acquired a new stake in shares of Bio-Techne during the fourth quarter worth $43,000. 98.95% of the stock is owned by institutional investors and hedge funds.

About Bio-Techne

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.