Analysts Set Bio-Techne Co. (NASDAQ:TECH) PT at $104.45

Posted by on May 30th, 2023

Bio-Techne Co. (NASDAQ:TECH – Get Rating) has earned an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $104.45.

Several research analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Bio-Techne from $89.00 to $88.00 and set a “sector perform” rating for the company in a research report on Monday, February 6th. KeyCorp lowered their price objective on shares of Bio-Techne from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. StockNews.com assumed coverage on shares of Bio-Techne in a research report on Thursday, May 18th. They set a “hold” rating for the company. Benchmark restated a “buy” rating and set a $120.00 price objective on shares of Bio-Techne in a research report on Friday, February 3rd. Finally, Robert W. Baird boosted their target price on shares of Bio-Techne from $99.00 to $100.00 in a research note on Thursday, May 4th.

Bio-Techne Stock Up 1.4 %

NASDAQ TECH opened at $83.50 on Tuesday. The company has a current ratio of 4.04, a quick ratio of 2.84 and a debt-to-equity ratio of 0.20. Bio-Techne has a 1-year low of $68.00 and a 1-year high of $99.33. The company has a 50 day moving average of $79.61 and a 200-day moving average of $79.94. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 50.00, a PEG ratio of 3.73 and a beta of 1.25.

Bio-Techne (NASDAQ:TECH – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. Bio-Techne had a net margin of 24.15% and a return on equity of 15.31%. The company had revenue of $294.15 million during the quarter, compared to the consensus estimate of $298.55 million. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Bio-Techne will post 1.72 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Monday, May 15th were paid a $0.08 dividend. The ex-dividend date was Friday, May 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. Bio-Techne’s dividend payout ratio is 19.16%.

Institutional Trading of Bio-Techne

Several institutional investors have recently modified their holdings of the business. CAPROCK Group Inc. grew its stake in shares of Bio-Techne by 1.0% in the third quarter. CAPROCK Group Inc. now owns 3,389 shares of the biotechnology company’s stock worth $962,000 after purchasing an additional 33 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in Bio-Techne by 4.8% in the first quarter. Wetherby Asset Management Inc. now owns 737 shares of the biotechnology company’s stock valued at $319,000 after buying an additional 34 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Bio-Techne by 2.3% in the third quarter. Verdence Capital Advisors LLC now owns 1,861 shares of the biotechnology company’s stock valued at $529,000 after buying an additional 42 shares during the period. Evercore Wealth Management LLC lifted its holdings in Bio-Techne by 9.3% in the first quarter. Evercore Wealth Management LLC now owns 575 shares of the biotechnology company’s stock valued at $249,000 after buying an additional 49 shares during the period. Finally, Amalgamated Bank lifted its holdings in Bio-Techne by 0.4% in the third quarter. Amalgamated Bank now owns 14,925 shares of the biotechnology company’s stock valued at $4,239,000 after buying an additional 53 shares during the period. Institutional investors own 23.92% of the company’s stock.

Bio-Techne Company Profile

(Get Rating)

Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Protein Sciences and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures purified proteins and reagent solutions most notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies.

Read More

Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

Receive News & Ratings for Bio-Techne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne and related companies with MarketBeat.com's FREE daily email newsletter.