Bio-Techne (NASDAQ:TECH - Free Report) had its price objective raised by KeyCorp from $80.00 to $90.00 in a report released on Thursday morning,Benzinga reports. KeyCorp currently has an overweight rating on the biotechnology company's stock.
Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Bio-Techne from a "hold" rating to a "buy" rating in a report on Tuesday, November 12th. Robert W. Baird upped their price objective on shares of Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, Scotiabank lifted their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.57.
Get Our Latest Stock Report on Bio-Techne
Bio-Techne Stock Down 4.0 %
NASDAQ:TECH traded down $2.89 during trading hours on Thursday, hitting $69.92. The company's stock had a trading volume of 2,916,519 shares, compared to its average volume of 1,201,523. Bio-Techne has a 52-week low of $61.16 and a 52-week high of $85.57. 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 stock has a market capitalization of $11.11 billion, a P/E ratio of 70.63, a price-to-earnings-growth ratio of 5.54 and a beta of 1.27. The stock has a fifty day moving average of $74.56 and a 200-day moving average of $74.30.
Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The biotechnology company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.03). Bio-Techne had a net margin of 13.22% and a return on equity of 12.73%. On average, equities analysts forecast that Bio-Techne will post 1.68 earnings per share for the current year.
Bio-Techne Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. Bio-Techne's dividend payout ratio (DPR) is 32.32%.
Insider Activity at Bio-Techne
In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Bio-Techne
Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Bio-Techne during the 3rd quarter worth $39,000. UMB Bank n.a. increased its stake in shares of Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 168 shares during the period. Quest Partners LLC purchased a new position in Bio-Techne during the third quarter worth about $43,000. Mather Group LLC. lifted its position in Bio-Techne by 51.5% in the third 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. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Bio-Techne by 60.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 253 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
About Bio-Techne
(
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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.
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