BIO-TECHNE (NASDAQ:TECH) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Monday, February 4th.
TECH has been the subject of a number of other reports. ValuEngine downgraded shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Goldman Sachs Group set a $165.00 price objective on shares of BIO-TECHNE and gave the stock a “hold” rating in a research note on Friday, November 30th. Zacks Investment Research downgraded shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. Stephens upgraded shares of BIO-TECHNE from an “equal weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Monday, January 14th. Finally, Craig Hallum downgraded shares of BIO-TECHNE from a “buy” rating to a “hold” rating and cut their target price for the company from $215.00 to $154.00 in a research note on Wednesday, October 31st. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $188.13.
NASDAQ TECH traded up $2.91 on Monday, reaching $196.81. The company had a trading volume of 111,737 shares, compared to its average volume of 216,930. The firm has a market cap of $7.36 billion, a PE ratio of 48.36, a PEG ratio of 4.41 and a beta of 1.18. The company has a current ratio of 4.35, a quick ratio of 3.31 and a debt-to-equity ratio of 0.49. BIO-TECHNE has a 1-year low of $132.75 and a 1-year high of $206.04.
BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, February 5th. The biotechnology company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. BIO-TECHNE had a net margin of 14.02% and a return on equity of 13.90%. The firm had revenue of $174.50 million during the quarter, compared to analyst estimates of $171.39 million. During the same period in the prior year, the business earned $1.02 EPS. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts forecast that BIO-TECHNE will post 3.68 EPS for the current year.
A number of large investors have recently modified their holdings of the stock. Executive Wealth Management LLC bought a new position in BIO-TECHNE in the 4th quarter valued at about $38,000. Portfolio Solutions LLC bought a new position in BIO-TECHNE in the 4th quarter valued at about $50,000. Meeder Asset Management Inc. raised its holdings in BIO-TECHNE by 220.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 489 shares during the period. We Are One Seven LLC bought a new position in BIO-TECHNE in the 4th quarter valued at about $121,000. Finally, ETF Managers Group LLC raised its holdings in BIO-TECHNE by 18.1% in the 4th quarter. ETF Managers Group LLC now owns 869 shares of the biotechnology company’s stock valued at $126,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 92.49% of the company’s stock.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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