BidaskClub cut shares of Bio-Techne (NASDAQ:TECH) from a buy rating to a hold rating in a report released on Tuesday.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Bio-Techne from a hold rating to a buy rating and set a $143.00 price target on the stock in a report on Saturday, November 4th. Citigroup reissued a buy rating and set a $115.00 price target (down from $125.00) on shares of Bio-Techne in a report on Tuesday, October 24th. Finally, Deutsche Bank set a $145.00 price target on Bio-Techne and gave the company a buy rating in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $134.33.
Bio-Techne (NASDAQ TECH) traded up $0.18 during mid-day trading on Tuesday, reaching $128.90. The company had a trading volume of 150,300 shares, compared to its average volume of 166,540. The company has a market cap of $4,822.13, a PE ratio of 37.10, a PEG ratio of 3.21 and a beta of 0.75. Bio-Techne has a fifty-two week low of $95.68 and a fifty-two week high of $136.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.99%. Bio-Techne’s payout ratio is 66.32%.
In related news, Director Robert V. Baumgartner sold 5,000 shares of Bio-Techne stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the transaction, the director now directly owns 12,712 shares of the company’s stock, valued at $1,654,848.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. lifted its stake in shares of Bio-Techne by 5.0% during the second quarter. Eagle Asset Management Inc. now owns 49,945 shares of the biotechnology company’s stock worth $5,868,000 after buying an additional 2,371 shares during the period. Vanguard Group Inc. lifted its position in Bio-Techne by 1.2% during the second quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after purchasing an additional 36,768 shares during the period. Castleark Management LLC acquired a new position in shares of Bio-Techne in the second quarter worth about $3,504,000. American Century Companies Inc. raised its position in shares of Bio-Techne by 174.8% in the second quarter. American Century Companies Inc. now owns 731,589 shares of the biotechnology company’s stock worth $85,962,000 after acquiring an additional 465,398 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Bio-Techne by 55.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 48,208 shares of the biotechnology company’s stock worth $5,664,000 after acquiring an additional 17,158 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.
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Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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