Bio-Techne (NASDAQ:TECH) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Bio-Techne (NASDAQ:TECH) had its price target raised by stock analysts at Royal Bank of Canada from $79.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 8.08% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Scotiabank lifted their target price on Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Thursday. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. KeyCorp upped their price objective on Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Robert W. Baird raised 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Bio-Techne Price Performance

TECH stock traded down $1.23 during midday trading on Thursday, hitting $74.02. The company’s stock had a trading volume of 583,928 shares, compared to its average volume of 1,085,220. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 78.75, a price-to-earnings-growth ratio of 5.42 and a beta of 1.27. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne has a 12 month low of $61.16 and a 12 month high of $85.57. The company has a 50 day moving average of $74.62 and a two-hundred day moving average of $74.37.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. On average, analysts expect that Bio-Techne will post 1.68 EPS for the current year.

Insiders Place Their Bets

In other 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 owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its stake in Bio-Techne by 46.4% in the 4th quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 168 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Bio-Techne in the third quarter valued at approximately $39,000. Quest Partners LLC bought a new position in Bio-Techne in the third quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB grew its stake in Bio-Techne by 60.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 253 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in Bio-Techne by 51.5% during the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 98.95% of the company’s stock.

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.