BIO-TECHNE (NASDAQ:TECH) Given “Buy” Rating at Leerink Swann

BIO-TECHNE (NASDAQ:TECH)‘s stock had its “buy” rating reissued by research analysts at Leerink Swann in a note issued to investors on Tuesday, December 5th.

A number of other research analysts have also weighed in on TECH. Deutsche Bank increased their price target on BIO-TECHNE from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub raised BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Citigroup reissued a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of BIO-TECHNE in a research note on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $135.00.

BIO-TECHNE (NASDAQ:TECH) traded up $0.79 during mid-day trading on Tuesday, reaching $129.55. The company had a trading volume of 138,979 shares, compared to its average volume of 156,350. BIO-TECHNE has a 12-month low of $95.68 and a 12-month high of $136.39. The company has a current ratio of 2.87, a quick ratio of 2.25 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4,850.00, a price-to-earnings ratio of 64.45, a P/E/G ratio of 3.21 and a beta of 0.75.

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

In other news, Director Robert V. Baumgartner sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now directly owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TECH. BlackRock Inc. increased its holdings in BIO-TECHNE by 1.7% in the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after purchasing an additional 61,138 shares in the last quarter. Vanguard Group Inc. increased its holdings in BIO-TECHNE by 1.2% in the 2nd 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 in the last quarter. Atlanta Capital Management Co. L L C increased its holdings in BIO-TECHNE by 0.7% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after purchasing an additional 14,291 shares in the last quarter. Bamco Inc. NY increased its holdings in BIO-TECHNE by 1.4% in the 3rd quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after purchasing an additional 20,286 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in BIO-TECHNE by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after purchasing an additional 914,554 shares in the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

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BIO-TECHNE Company Profile

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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