Bio-Techne (NASDAQ:TECH) Raised to Buy at StockNews.com

Bio-Techne (NASDAQ:TECH - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.

TECH has been the topic of a number of other research reports. Benchmark restated a "buy" rating and set a $95.00 target price on shares of Bio-Techne in a report on Tuesday, August 13th. Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the company a "sector outperform" rating in a report on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada dropped their target price on shares of Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.78.

Bio-Techne Trading Down 0.4 %

NASDAQ:TECH traded down $0.28 during trading hours on Tuesday, hitting $74.41. The company had a trading volume of 802,414 shares, compared to its average volume of 1,010,624. The company has a market capitalization of $11.82 billion, a PE ratio of 79.46, a price-to-earnings-growth ratio of 5.54 and a beta of 1.28. The stock has a 50-day moving average price of $74.15 and a 200 day moving average price of $75.32. Bio-Techne has a 52 week low of $56.45 and a 52 week high of $85.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to analysts' expectations of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, equities research analysts predict that Bio-Techne will post 1.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Palisade Asset Management LLC boosted its stake in Bio-Techne by 2.1% in the 3rd quarter. Palisade Asset Management LLC now owns 56,609 shares of the biotechnology company's stock worth $4,525,000 after purchasing an additional 1,160 shares during the period. Cerity Partners LLC raised its holdings in shares of Bio-Techne by 52.3% during the 3rd quarter. Cerity Partners LLC now owns 157,729 shares of the biotechnology company's stock worth $12,607,000 after acquiring an additional 54,134 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Bio-Techne by 7.9% during the 3rd quarter. Nicolet Advisory Services LLC now owns 6,071 shares of the biotechnology company's stock worth $449,000 after acquiring an additional 443 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Bio-Techne by 17.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 477,880 shares of the biotechnology company's stock worth $38,197,000 after acquiring an additional 72,011 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Bio-Techne by 0.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 90,342 shares of the biotechnology company's stock worth $7,221,000 after acquiring an additional 803 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

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.