Bio-Techne (NASDAQ:TECH) Price Target Raised to $90.00 at KeyCorp

Bio-Techne (NASDAQ:TECH) had its target price hoisted by KeyCorp from $80.00 to $90.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price target 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. Finally, Scotiabank raised their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Bio-Techne has a consensus rating of “Moderate Buy” and an average target price of $86.57.

Bio-Techne Stock Down 0.3 %

NASDAQ:TECH opened at $75.01 on Thursday. 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 stock’s fifty day simple moving average is $74.61 and its 200-day simple moving average is $74.37. The firm has a market capitalization of $11.92 billion, a P/E ratio of 79.80, a P/E/G ratio of 5.42 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) 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%. Equities research analysts expect that Bio-Techne will post 1.68 earnings per share for the current year.

Bio-Techne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 14th. Bio-Techne’s payout ratio is presently 32.32%.

Insider Buying and Selling at Bio-Techne

In other news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value of $1,035,067.68. Following the sale, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

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

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.