Bio-Techne Corp (NASDAQ:TECH)‘s stock had its “buy” rating reaffirmed by equities research analysts at Citigroup Inc. in a research report issued to clients and investors on Tuesday. They presently have a $115.00 price target on the biotechnology company’s stock, down from their previous price target of $125.00. Citigroup Inc.’s price objective would indicate a potential downside of 7.17% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank AG lifted their target price on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. BidaskClub upgraded Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Wells Fargo & Company began coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bio-Techne Corp has an average rating of “Buy” and an average price target of $133.75.

Shares of Bio-Techne Corp (NASDAQ TECH) traded up 0.06% on Tuesday, reaching $123.95. 38,087 shares of the company traded hands. Bio-Techne Corp has a one year low of $95.68 and a one year high of $125.40. The company has a market capitalization of $4.63 billion, a P/E ratio of 61.06 and a beta of 0.76. The firm’s 50 day moving average is $122.06 and its 200 day moving average is $115.43.

Bio-Techne Corp (NASDAQ:TECH) last released its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The firm had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. Analysts expect that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.

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In other news, Director Karen A. Holbrook sold 1,059 shares of Bio-Techne Corp stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the sale, the director now directly owns 914 shares of the company’s stock, valued at $111,261.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,359 shares of company stock worth $164,632 over the last three months. Insiders own 3.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Bio-Techne Corp by 18.6% during the third quarter. First Trust Advisors LP now owns 361,521 shares of the biotechnology company’s stock valued at $43,704,000 after purchasing an additional 56,775 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Bio-Techne Corp by 2.0% during the third quarter. Nationwide Fund Advisors now owns 233,752 shares of the biotechnology company’s stock valued at $28,258,000 after purchasing an additional 4,693 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Bio-Techne Corp during the third quarter valued at about $3,566,000. Lord Abbett & CO. LLC boosted its stake in shares of Bio-Techne Corp by 51.8% during the second quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock valued at $38,455,000 after purchasing an additional 111,629 shares in the last quarter. Finally, WFG Advisors LP boosted its stake in shares of Bio-Techne Corp by 11.8% during the second quarter. WFG Advisors LP now owns 5,686 shares of the biotechnology company’s stock valued at $668,000 after purchasing an additional 601 shares in the last quarter. 98.54% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Corp Company Profile

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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