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.
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.
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