BIO-TECHNE (NASDAQ:TECH) Upgraded at ValuEngine

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ValuEngine upgraded shares of BIO-TECHNE (NASDAQ:TECH) from a hold rating to a buy rating in a research note released on Tuesday, ValuEngine reports.

A number of other equities analysts also recently weighed in on TECH. Zacks Investment Research downgraded shares of BIO-TECHNE from a hold rating to a sell rating in a research note on Saturday, November 2nd. Leerink Swann reaffirmed an outperform rating and set a $240.00 target price (up previously from $230.00) on shares of BIO-TECHNE in a research note on Thursday, September 26th. BidaskClub raised shares of BIO-TECHNE from a sell rating to a hold rating in a research note on Tuesday, September 17th. Finally, TheStreet downgraded shares of BIO-TECHNE from a b rating to a c+ rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $212.83.

TECH stock traded up $0.24 during trading on Tuesday, reaching $203.21. The company had a trading volume of 144,900 shares, compared to its average volume of 169,298. BIO-TECHNE has a 52 week low of $132.75 and a 52 week high of $217.15. The company has a market cap of $7.76 billion, a P/E ratio of 53.48, a PEG ratio of 4.36 and a beta of 1.22. The business has a 50 day moving average of $201.97 and a 200 day moving average of $201.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.44 and a quick ratio of 3.41.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.14. BIO-TECHNE had a net margin of 12.68% and a return on equity of 13.36%. The company had revenue of $183.24 million during the quarter, compared to the consensus estimate of $179.38 million. During the same period in the prior year, the firm earned $0.98 earnings per share. BIO-TECHNE’s revenue was up 12.4% on a year-over-year basis. Research analysts expect that BIO-TECHNE will post 4.26 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, November 7th. BIO-TECHNE’s dividend payout ratio is 33.68%.

In other BIO-TECHNE news, CEO Charles R. Kummeth bought 200 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $185.00 per share, with a total value of $37,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in TECH. Invesco Ltd. grew its holdings in shares of BIO-TECHNE by 97.1% during the second quarter. Invesco Ltd. now owns 1,064,196 shares of the biotechnology company’s stock valued at $221,874,000 after buying an additional 524,216 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of BIO-TECHNE by 6,323.4% during the second quarter. Nuveen Asset Management LLC now owns 126,091 shares of the biotechnology company’s stock valued at $26,289,000 after buying an additional 124,128 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of BIO-TECHNE by 229.8% during the second quarter. BNP Paribas Arbitrage SA now owns 47,344 shares of the biotechnology company’s stock valued at $9,871,000 after buying an additional 32,989 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of BIO-TECHNE by 3.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 951,301 shares of the biotechnology company’s stock valued at $186,141,000 after buying an additional 31,700 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of BIO-TECHNE by 20.2% during the third quarter. Candriam Luxembourg S.C.A. now owns 129,857 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 21,840 shares during the last quarter. 92.09% of the stock is owned by institutional investors and hedge funds.

BIO-TECHNE Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.

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