Bio-Techne Corp (TECH) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Bio-Techne Corp (NASDAQ:TECH) from a hold rating to a buy rating in a report issued on Tuesday.

A number of other equities analysts have also commented on the stock. Janney Montgomery Scott lowered shares of Bio-Techne Corp from a buy rating to a neutral rating in a report on Monday, March 27th. Deutsche Bank AG reiterated a buy rating and issued a $122.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Citigroup Inc. reiterated a buy rating and issued a $125.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. TheStreet upgraded shares of Bio-Techne Corp from a c+ rating to a b rating in a report on Tuesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Bio-Techne Corp from a sell rating to a hold rating in a report on Tuesday, March 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Bio-Techne Corp has an average rating of Buy and an average price target of $122.60.

Bio-Techne Corp (NASDAQ TECH) traded up 0.92% during mid-day trading on Tuesday, reaching $118.67. The company’s stock had a trading volume of 36,698 shares. The stock’s 50 day moving average price is $111.57 and its 200 day moving average price is $105.47. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $119.03. The stock has a market capitalization of $4.43 billion, a P/E ratio of 63.84 and a beta of 0.83.

Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Bio-Techne Corp had a net margin of 12.86% and a return on equity of 13.80%. The firm had revenue of $144.04 million for the quarter, compared to analyst estimates of $142.83 million. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Bio-Techne Corp will post $3.62 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were paid a $0.32 dividend. The ex-dividend date was Wednesday, May 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.09%. Bio-Techne Corp’s dividend payout ratio (DPR) is presently 68.82%.

In other news, Director Karen A. Holbrook sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $111.15, for a total value of $555,750.00. Following the sale, the director now owns 6,973 shares in the company, valued at approximately $775,048.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 10,300 shares of company stock worth $1,145,136. Company insiders own 2.70% of the company’s stock.

Several large investors have recently modified their holdings of TECH. BlackRock Inc. raised its stake in shares of Bio-Techne Corp by 14,548.6% in the first quarter. BlackRock Inc. now owns 3,500,436 shares of the biotechnology company’s stock worth $355,820,000 after buying an additional 3,476,540 shares during the period. Norges Bank bought a new stake in shares of Bio-Techne Corp during the fourth quarter worth about $49,542,000. Neuberger Berman Group LLC raised its stake in shares of Bio-Techne Corp by 18.4% in the first quarter. Neuberger Berman Group LLC now owns 1,900,495 shares of the biotechnology company’s stock worth $193,185,000 after buying an additional 295,802 shares during the period. American Century Companies Inc. bought a new stake in shares of Bio-Techne Corp during the first quarter worth about $27,058,000. Finally, Vanguard Group Inc. raised its stake in shares of Bio-Techne Corp by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,005,690 shares of the biotechnology company’s stock worth $305,528,000 after buying an additional 134,138 shares during the period. Institutional investors and hedge funds own 96.91% of the company’s stock.

About Bio-Techne Corp

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 Corp (NASDAQ:TECH)

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