BIO-TECHNE Corp (TECH) Receives $191.83 Consensus Target Price from Brokerages

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BIO-TECHNE Corp (NASDAQ:TECH) has been assigned a consensus rating of “Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $191.83.

Several research analysts have recently issued reports on TECH shares. BidaskClub upgraded shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 28th. Craig Hallum boosted their price objective on shares of BIO-TECHNE from $160.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Robert W. Baird boosted their price objective on shares of BIO-TECHNE from $162.00 to $191.00 and gave the company a “positive” rating in a report on Wednesday, August 8th. Leerink Swann set a $190.00 price objective on shares of BIO-TECHNE and gave the company an “outperform” rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut shares of BIO-TECHNE from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th.

In other news, Director John L. Higgins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $187.92, for a total transaction of $1,879,200.00. Following the completion of the transaction, the director now directly owns 13,012 shares of the company’s stock, valued at $2,445,215.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $176.94, for a total transaction of $884,700.00. Following the transaction, the director now directly owns 13,212 shares of the company’s stock, valued at $2,337,731.28. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in BIO-TECHNE by 9.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,604 shares of the biotechnology company’s stock valued at $533,000 after buying an additional 299 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in BIO-TECHNE by 3.1% during the first quarter. Municipal Employees Retirement System of Michigan now owns 11,640 shares of the biotechnology company’s stock valued at $1,758,000 after buying an additional 350 shares during the last quarter. Mason Street Advisors LLC increased its holdings in BIO-TECHNE by 2.0% during the first quarter. Mason Street Advisors LLC now owns 18,822 shares of the biotechnology company’s stock valued at $2,843,000 after buying an additional 366 shares during the last quarter. Brookstone Capital Management increased its holdings in BIO-TECHNE by 14.4% during the second quarter. Brookstone Capital Management now owns 3,378 shares of the biotechnology company’s stock valued at $500,000 after buying an additional 426 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in BIO-TECHNE by 4.8% during the first quarter. Stifel Financial Corp now owns 9,877 shares of the biotechnology company’s stock valued at $1,491,000 after buying an additional 448 shares during the last quarter. 94.74% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TECH traded up $0.83 during midday trading on Friday, hitting $191.36. The stock had a trading volume of 141,800 shares, compared to its average volume of 186,969. The company has a market cap of $7.14 billion, a PE ratio of 46.94, a P/E/G ratio of 3.26 and a beta of 0.88. BIO-TECHNE has a 52 week low of $119.01 and a 52 week high of $194.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.97 and a current ratio of 5.01.

BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.05. The firm had revenue of $180.25 million for the quarter, compared to the consensus estimate of $176.24 million. BIO-TECHNE had a net margin of 19.50% and a return on equity of 14.64%. analysts forecast that BIO-TECHNE will post 3.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, August 16th. This represents a $1.28 annualized dividend and a dividend yield of 0.67%. BIO-TECHNE’s payout ratio is 31.45%.

About BIO-TECHNE

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.

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Analyst Recommendations for BIO-TECHNE (NASDAQ:TECH)

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