Bio-Techne (TECH) Downgraded by BidaskClub

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.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.08. The business had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. Bio-Techne had a return on equity of 14.11% and a net margin of 12.54%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. analysts predict that Bio-Techne will post 3.76 EPS for the current year.

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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About Bio-Techne

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.

Analyst Recommendations for Bio-Techne (NASDAQ:TECH)

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