Bio-Techne Co. (NASDAQ:TECH) Receives $81.00 Consensus Price Target from Analysts

Bio-Techne Co. (NASDAQ:TECH) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $81.00.

Several brokerages have recently issued reports on TECH. Robert W. Baird upped their price target on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th.

Institutional Investors Weigh In On Bio-Techne

Several large investors have recently modified their holdings of TECH. Federated Hermes Inc. bought a new stake in shares of Bio-Techne in the third quarter worth about $47,000. O Shaughnessy Asset Management LLC acquired a new stake in Bio-Techne in the 3rd quarter valued at approximately $321,000. Tower Research Capital LLC TRC raised its position in Bio-Techne by 33.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,848 shares of the biotechnology company’s stock valued at $875,000 after buying an additional 3,198 shares during the last quarter. Bank of Nova Scotia raised its position in Bio-Techne by 14.2% in the 3rd quarter. Bank of Nova Scotia now owns 14,613 shares of the biotechnology company’s stock valued at $995,000 after buying an additional 1,821 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Bio-Techne by 33.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,276 shares of the biotechnology company’s stock valued at $699,000 after buying an additional 2,592 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Bio-Techne Price Performance

Bio-Techne stock opened at $71.29 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08. The firm has a market cap of $11.23 billion, a P/E ratio of 56.58, a P/E/G ratio of 7.42 and a beta of 1.29. The business’s fifty day moving average is $76.93 and its two-hundred day moving average is $72.80. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $89.91.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business had revenue of $303.43 million for the quarter, compared to analyst estimates of $292.36 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Bio-Techne will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 13th were issued a $0.08 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

About Bio-Techne

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.