Somewhat Favorable News Coverage Somewhat Unlikely to Impact Bio-Techne Corp (TECH) Share Price
Press coverage about Bio-Techne Corp (NASDAQ:TECH) has trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Bio-Techne Corp earned a news impact score of 0.19 on Accern’s scale. Accern also gave news coverage about the biotechnology company an impact score of 45.7874677128361 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- $142.75 Million in Sales Expected for Bio-Techne Corp (TECH) This Quarter (americanbankingnews.com)
- Analysts Expect Bio-Techne Corp (TECH) Will Announce Earnings of $0.89 Per Share (americanbankingnews.com)
- Berkeley accelerator adds money to the mix (bizjournals.com)
- Western Blotting Market to Record US$ 725.0 Mn by 2021 (medgadget.com)
A number of brokerages recently commented on TECH. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday, July 6th. BidaskClub lowered Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company began coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating for the company. Finally, Deutsche Bank AG upped their price target on Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Bio-Techne Corp currently has a consensus rating of “Buy” and a consensus target price of $127.50.
Shares of Bio-Techne Corp (NASDAQ:TECH) opened at 122.64 on Tuesday. The stock has a market capitalization of $4.58 billion, a PE ratio of 60.41 and a beta of 0.76. The stock has a 50 day moving average of $120.72 and a 200-day moving average of $113.13. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $124.00.
Bio-Techne Corp (NASDAQ:TECH) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.10. The firm had revenue of $156.60 million for the quarter, compared to the consensus estimate of $150.25 million. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, equities research analysts expect that Bio-Techne Corp will post $3.99 EPS for the current year.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the sale, the director now owns 914 shares in the company, valued at approximately $111,261.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 1,359 shares of company stock valued at $164,122 over the last three months. 3.40% of the stock is currently owned by corporate insiders.
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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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