Bio-Techne (NASDAQ:TECH) Price Target Raised to $90.00

Bio-Techne (NASDAQ:TECH - Get Free Report) had its price objective boosted by research analysts at Scotiabank from $88.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "sector outperform" rating on the biotechnology company's stock. Scotiabank's target price indicates a potential upside of 28.72% from the stock's current price.

TECH has been the topic of a number of other reports. Robert W. Baird boosted their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. StockNews.com raised Bio-Techne from a "hold" rating to a "buy" rating in a research note on Tuesday, November 12th. Finally, KeyCorp lifted their price target on Bio-Techne from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $86.57.

Bio-Techne Stock Down 4.0 %

TECH traded down $2.89 during trading on Thursday, reaching $69.92. The stock had a trading volume of 2,919,693 shares, compared to its average volume of 1,208,140. The company has a current ratio of 3.94, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 70.63, a P/E/G ratio of 5.54 and a beta of 1.27. The stock's 50 day moving average is $74.56 and its two-hundred day moving average is $74.30. Bio-Techne has a one year low of $61.16 and a one year high of $85.57.

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 (EPS) 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%. As a group, analysts expect that Bio-Techne will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now 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 SEC, which is accessible through the SEC website. Insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TECH. Point72 Asset Management L.P. purchased a new position in shares of Bio-Techne in the third quarter valued at $89,724,000. Raymond James Financial Inc. bought a new position in Bio-Techne during the fourth quarter valued at $44,479,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Bio-Techne by 21.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company's stock worth $147,002,000 after buying an additional 354,478 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Bio-Techne in the 3rd quarter worth about $20,071,000. Finally, Proficio Capital Partners LLC raised its position in shares of Bio-Techne by 8,079.6% during the 4th quarter. Proficio Capital Partners LLC now owns 242,525 shares of the biotechnology company's stock valued at $17,469,000 after buying an additional 239,560 shares in the last quarter. 98.95% of the stock is 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.