Shares of Bio-Techne (NASDAQ:TECH) reached a new 52-week high and low during trading on Wednesday . The company traded as low as $153.45 and last traded at $153.42, with a volume of 61309 shares traded. The stock had previously closed at $153.01.
TECH has been the subject of a number of recent research reports. Zacks Investment Research cut Bio-Techne from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. BidaskClub upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Deutsche Bank set a $163.00 price objective on Bio-Techne and gave the stock a “buy” rating in a research report on Thursday, March 1st. Robert W. Baird reissued a “buy” rating and issued a $154.00 price target on shares of Bio-Techne in a research note on Thursday, January 18th. Finally, Craig Hallum reissued a “buy” rating and issued a $160.00 price target (up from $140.00) on shares of Bio-Techne in a research note on Wednesday, February 7th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $148.60.
The company has a quick ratio of 2.49, a current ratio of 3.10 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5,746.64, a PE ratio of 42.13, a PEG ratio of 2.55 and a beta of 0.70.
In other Bio-Techne news, Director Charles A. Dinarello sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total value of $680,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of TECH. TimesSquare Capital Management LLC acquired a new stake in Bio-Techne in the 4th quarter worth about $45,083,000. Renaissance Technologies LLC lifted its stake in shares of Bio-Techne by 45.5% in the 4th quarter. Renaissance Technologies LLC now owns 356,000 shares of the biotechnology company’s stock valued at $46,120,000 after purchasing an additional 111,300 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of Bio-Techne by 28.8% in the 4th quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock valued at $53,988,000 after purchasing an additional 93,175 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Bio-Techne in the 4th quarter valued at about $9,766,000. Finally, Jackson Square Partners LLC lifted its stake in shares of Bio-Techne by 8.1% in the 4th quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock valued at $120,662,000 after purchasing an additional 69,784 shares in the last quarter. 97.14% of the stock is currently owned by hedge funds and other institutional investors.
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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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