Zacks Investment Research upgraded shares of BIO-TECHNE (NASDAQ:TECH) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Bio-Techne Corporation is a global life sciences company. It develops, manufactures, and sells biotechnology products and clinical diagnostic controls. It provides proteins, such as cytokines, growth factors, and enzymes; antibodies, including polyclonal and monoclonal antibodies; immunoassays comprising quantikine kits; and clinical diagnostic immunoassay kits. The Company also offers flow cytometry products; natural and synthetic chemical compounds; hematology controls and calibrators; and hematology control products. Bio-Techne Corporation, formerly known as Techne Corporation, is headquartered in Minneapolis, Minnesota. “

Several other brokerages also recently issued reports on TECH. Argus raised their price target on BIO-TECHNE from $210.00 to $230.00 and gave the company a buy rating in a report on Tuesday, October 2nd. BidaskClub downgraded BIO-TECHNE from a strong-buy rating to a buy rating in a report on Thursday, October 4th. ValuEngine raised BIO-TECHNE from a buy rating to a strong-buy rating in a report on Tuesday, September 11th. Goldman Sachs Group began coverage on BIO-TECHNE in a report on Wednesday, October 17th. They set a neutral rating and a $190.00 price target for the company. Finally, Citigroup raised their price target on BIO-TECHNE from $160.00 to $205.00 and gave the company a buy rating in a report on Thursday, August 9th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $181.00.

Shares of BIO-TECHNE stock opened at $157.59 on Wednesday. BIO-TECHNE has a 1 year low of $125.84 and a 1 year high of $206.04. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.59 and a quick ratio of 3.50.

BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The business had revenue of $163.00 million during the quarter, compared to the consensus estimate of $162.34 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that BIO-TECHNE will post 3.79 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, November 8th. BIO-TECHNE’s dividend payout ratio is currently 31.45%.

Several institutional investors and hedge funds have recently bought and sold shares of TECH. Bank of Montreal Can acquired a new stake in shares of BIO-TECHNE during the second quarter worth $2,773,000. Janney Montgomery Scott LLC acquired a new position in BIO-TECHNE in the second quarter valued at about $780,000. Aperio Group LLC raised its stake in BIO-TECHNE by 2.7% in the second quarter. Aperio Group LLC now owns 36,108 shares of the biotechnology company’s stock valued at $5,342,000 after purchasing an additional 934 shares in the last quarter. Commonwealth Equity Services LLC grew its position in BIO-TECHNE by 161.4% in the second quarter. Commonwealth Equity Services LLC now owns 10,456 shares of the biotechnology company’s stock valued at $1,547,000 after acquiring an additional 6,456 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in BIO-TECHNE by 13.3% in the second quarter. Victory Capital Management Inc. now owns 27,917 shares of the biotechnology company’s stock valued at $4,130,000 after acquiring an additional 3,282 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

About BIO-TECHNE

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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