StockNews.com Upgrades Bio-Techne (NASDAQ:TECH) to "Buy"

Bio-Techne (NASDAQ:TECH - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.

A number of other brokerages have also commented on TECH. Scotiabank lifted their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 6th. KeyCorp reiterated a "sector weight" rating on shares of Bio-Techne in a research report on Wednesday, April 9th. Baird R W downgraded Bio-Techne from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Robert W. Baird cut Bio-Techne from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $88.00 to $68.00 in a report on Wednesday, February 19th. Finally, Evercore ISI began coverage on shares of Bio-Techne in a research report on Tuesday, March 18th. They set an "outperform" rating and a $75.00 target price for the company. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $81.14.

Bio-Techne Price Performance

Shares of TECH traded up $1.57 during mid-day trading on Thursday, reaching $49.08. The company had a trading volume of 2,148,914 shares, compared to its average volume of 1,206,510. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 49.58, a P/E/G ratio of 2.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.77 and a current ratio of 3.94. The company's 50 day simple moving average is $58.34 and its 200 day simple moving average is $68.23. Bio-Techne has a 1-year low of $46.01 and a 1-year high of $85.57.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released 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%. Analysts expect that Bio-Techne will post 1.67 EPS for the current year.

Insider Transactions at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 39,004 shares of the company's stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy E. Herr sold 1,860 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,976 shares in the company, valued at approximately $130,336.96. The trade was a 48.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Bio-Techne

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its holdings in Bio-Techne by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 18,524 shares of the biotechnology company's stock worth $1,086,000 after buying an additional 405 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Bio-Techne by 3.1% in the 1st quarter. Conestoga Capital Advisors LLC now owns 329,152 shares of the biotechnology company's stock worth $19,298,000 after acquiring an additional 10,030 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Bio-Techne by 4.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 11,210 shares of the biotechnology company's stock valued at $657,000 after acquiring an additional 490 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Bio-Techne by 21.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,803 shares of the biotechnology company's stock valued at $164,000 after purchasing an additional 490 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in Bio-Techne by 1.6% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 46,753 shares of the biotechnology company's stock worth $2,741,000 after purchasing an additional 737 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

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.