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.
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