Bio-Techne Corp (NASDAQ:TECH) Given Consensus Rating of “Hold” by Analysts

Shares of Bio-Techne Corp (NASDAQ:TECH) have earned an average recommendation of “Hold” from the seventeen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $68.9231.

Several equities research analysts recently commented on the stock. Zacks Research cut shares of Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bio-Techne in a report on Tuesday, August 4th. William Blair downgraded Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Piper Sandler initiated coverage on Bio-Techne in a report on Thursday, June 11th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $70.00 to $73.00 in a research report on Friday, June 26th.

Bio-Techne Price Performance

NASDAQ TECH opened at $72.32 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 62.89, a PEG ratio of 8.61 and a beta of 1.28. The business has a 50 day simple moving average of $69.28 and a 200 day simple moving average of $59.50. Bio-Techne has a 52-week low of $43.19 and a 52-week high of $72.62.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. The company had revenue of $321.19 million during the quarter, compared to analysts’ expectations of $314.63 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts anticipate that Bio-Techne will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Monday, August 24th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 24th. This is a positive change from Bio-Techne’s previous quarterly dividend of $0.08. Bio-Techne’s dividend payout ratio (DPR) is presently 27.83%.

Hedge Funds Weigh In On Bio-Techne

Several hedge funds have recently made changes to their positions in TECH. Danske Bank A S acquired a new position in Bio-Techne during the fourth quarter worth $29,000. Measured Wealth Private Client Group LLC acquired a new stake in Bio-Techne in the 3rd quarter valued at $32,000. iSAM Funds UK Ltd acquired a new stake in Bio-Techne in the 3rd quarter valued at $33,000. Avalon Trust Co bought a new stake in Bio-Techne during the 2nd quarter worth about $42,000. Finally, Los Angeles Capital Management LLC bought a new stake in Bio-Techne during the 4th quarter worth about $39,000. 98.95% of the stock is owned by institutional investors.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.