Deutsche Bank AG Reiterates “$145.00” Price Target for Bio-Techne Corp (TECH)
Deutsche Bank AG set a $145.00 price objective on Bio-Techne Corp (NASDAQ:TECH) in a research report report published on Tuesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.
A number of other research firms have also weighed in on TECH. Zacks Investment Research lowered shares of Bio-Techne Corp from a buy rating to a hold rating in a research note on Tuesday, October 24th. Citigroup Inc. reissued a buy rating and issued a $115.00 target price (down from $125.00) on shares of Bio-Techne Corp in a research note on Tuesday, October 24th. BidaskClub raised shares of Bio-Techne Corp from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Finally, Wells Fargo & Company assumed coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They issued a market perform rating on the stock. Three 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 target price of $129.50.
Bio-Techne Corp (NASDAQ:TECH) traded up $0.89 on Tuesday, reaching $129.29. 138,129 shares of the company’s stock were exchanged, compared to its average volume of 147,440. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.12 and a current ratio of 2.87. The firm has a market capitalization of $4,786.33, a PE ratio of 36.89, a price-to-earnings-growth ratio of 3.22 and a beta of 0.74.
Bio-Techne Corp (NASDAQ:TECH) last released its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.08. Bio-Techne Corp had a net margin of 12.54% and a return on equity of 14.11%. The business had revenue of $144.61 million for the quarter, compared to analyst estimates of $142.37 million. During the same period last year, the company posted $0.84 EPS. The business’s revenue was up 10.7% on a year-over-year basis. equities research analysts expect that Bio-Techne Corp will post 3.73 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, November 9th. Bio-Techne Corp’s payout ratio is presently 66.32%.
In other news, Director Robert V. Baumgartner sold 5,000 shares of Bio-Techne Corp stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the sale, the director now owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen A. Holbrook sold 1,059 shares of Bio-Techne Corp stock in a transaction that occurred on Wednesday, September 6th. The shares were 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 in the company, valued at approximately $111,261.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,359 shares of company stock worth $815,532. Corporate insiders own 3.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Bio-Techne Corp by 1.7% during the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after buying an additional 61,138 shares during the period. Vanguard Group Inc. increased its holdings in Bio-Techne Corp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after purchasing an additional 36,768 shares during the last quarter. Atlanta Capital Management Co. L L C increased its holdings in Bio-Techne Corp by 0.7% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after purchasing an additional 14,291 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Bio-Techne Corp by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after purchasing an additional 914,554 shares during the last quarter. Finally, State Street Corp increased its holdings in Bio-Techne Corp by 0.5% in the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after purchasing an additional 5,078 shares during the last quarter. 98.70% of the stock is currently owned by hedge funds and other institutional investors.
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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