Benchmark reiterated its buy recommendation for shares of Bio-Techne (NASDAQ:TECH – Free Report) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a price target of $95.00 on the biotechnology company’s stock.
Several other brokerage firms have also recently commented on TECH. Citigroup downgraded shares of Bio-Techne from a buy rating to a neutral rating and set a $85.00 price target on the stock in a report on Wednesday, May 22nd. Robert W. Baird raised their price target on Bio-Techne from $81.00 to $82.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Bio-Techne from $85.00 to $82.00 and gave the company a buy rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price target on Bio-Techne from $72.00 to $70.00 and gave the company a sector perform rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating. According to MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $80.60.
Get our latest research report on TECH
Bio-Techne price development
NASDAQ TECH opened at $73.45 on Tuesday. Bio-Techne has a 12-month low of $51.79 and a 12-month high of $85.57. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 8.03 and a beta of 1.29. The company’s 50-day moving average is $75.64 and its 200-day moving average is $73.44. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15.
Bio-Techne (NASDAQ:TECH – Get Free Report) last released its quarterly earnings results on Wednesday, August 7. The biotechnology company reported earnings per share of $0.49 for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. Bio-Techne’s quarterly revenue grew 1.6% compared to the year-ago quarter. During the same period last year, the company generated earnings per share of $0.56. As a group, research analysts expect that Bio-Techne will report earnings per share of 1.8 for the current year.
Bio-Techne Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will receive a dividend of $0.08 per share. This represents an annualized dividend of $0.32 and a yield of 0.44%. The ex-dividend date of this dividend is Monday, August 19th. Bio-Techne’s payout ratio is currently 25.40%.
Hedge funds comment on bio-tech
Several hedge funds have recently made changes to their holdings in the stock. Lindbrook Capital LLC increased its holdings in shares of Bio-Techne by 23.8% in the fourth quarter. Lindbrook Capital LLC now owns 921 shares of the biotechnology company’s stock worth $71,000 after buying an additional 177 shares in the last quarter. First City Capital Management Inc. increased its holdings in shares of Bio-Techne by 6.2% in the first quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after buying an additional 185 shares during the same period. First Horizon Advisors Inc. increased its holdings in shares of Bio-Techne by 57.9% in the fourth quarter. First Horizon Advisors Inc. now owns 521 shares of the biotechnology company’s stock worth $40,000 after buying an additional 191 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of Bio-Techne by 1.5% in the 1st quarter. WCM Investment Management LLC now owns 13,220 shares of the biotechnology company’s stock worth $931,000 after acquiring an additional 191 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Bio-Techne by 5.2% in the 1st quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock worth $279,000 after acquiring an additional 195 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.
Company profile of Bio-Techne
(Get free report)
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures and sells life science reagents, instruments and services for the research and clinical diagnostics markets in the United States, the United Kingdom, the rest of Europe, the Middle East and Africa, Greater China, the rest of Asia Pacific, and worldwide.
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