Bio-Techne (NASDAQ:TECH - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.
Other research analysts have also issued research reports about the company. Scotiabank increased 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. Robert W. Baird raised their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Thursday. Benchmark reaffirmed a "buy" rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada lowered their price target on shares of Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.60.
Get Our Latest Analysis on Bio-Techne
Bio-Techne Trading Up 2.1 %
TECH stock traded up $1.56 on Friday, reaching $75.31. The company's stock had a trading volume of 983,810 shares, compared to its average volume of 1,019,940. The firm has a market cap of $11.95 billion, a PE ratio of 80.12, a PEG ratio of 5.49 and a beta of 1.27. The business has a fifty day simple moving average of $73.69 and a two-hundred day simple moving average of $74.53. Bio-Techne has a 12-month low of $52.99 and a 12-month high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.75 and a current ratio of 4.56.
Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The firm had revenue of $306.10 million during the quarter, compared to analysts' expectations of $306.49 million. During the same period last year, the company posted $0.56 EPS. The company's quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Bio-Techne will post 1.7 EPS for the current year.
Hedge Funds Weigh In On Bio-Techne
A number of hedge funds have recently added to or reduced their stakes in TECH. Price T Rowe Associates Inc. MD raised its stake in shares of Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company's stock worth $404,470,000 after purchasing an additional 2,755,065 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Bio-Techne by 8.2% during the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company's stock valued at $205,081,000 after acquiring an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Bio-Techne by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company's stock valued at $185,559,000 after acquiring an additional 88,257 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Bio-Techne by 20.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock worth $122,879,000 after acquiring an additional 290,510 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Bio-Techne by 1.3% during the first quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company's stock valued at $70,095,000 after purchasing an additional 12,991 shares during the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
Bio-Techne Company Profile
(
Get Free Report)
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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