BIO-TECHNE Corp (NASDAQ:TECH) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $117.20.
A number of research firms have issued reports on TECH. Zacks Investment Research raised BIO-TECHNE Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 21st. Deutsche Bank AG reissued a “buy” rating and issued a $115.00 target price on shares of BIO-TECHNE Corp in a research note on Wednesday, January 18th. Finally, Citigroup Inc started coverage on BIO-TECHNE Corp in a report on Thursday, February 9th. They issued a “buy” rating and a $115.00 price target on the stock.
Shares of BIO-TECHNE Corp (NASDAQ:TECH) opened at 103.82 on Tuesday. The stock’s 50 day moving average price is $105.10 and its 200-day moving average price is $104.87. The stock has a market capitalization of $3.87 billion, a P/E ratio of 49.49 and a beta of 0.73. BIO-TECHNE Corp has a 1-year low of $91.45 and a 1-year high of $117.42.
BIO-TECHNE Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, February 7th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. BIO-TECHNE Corp had a net margin of 14.87% and a return on equity of 13.95%. The business earned $131.80 million during the quarter, compared to analyst estimates of $134.74 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that BIO-TECHNE Corp will post $3.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Friday, February 17th were issued a dividend of $0.32 per share. The ex-dividend date was Wednesday, February 15th. This represents a $1.28 annualized dividend and a yield of 1.23%. BIO-TECHNE Corp’s payout ratio is presently 60.95%.
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A number of hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in BIO-TECHNE Corp by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,092 shares of the company’s stock valued at $112,000 after buying an additional 78 shares during the last quarter. LS Investment Advisors LLC raised its stake in BIO-TECHNE Corp by 14.6% in the third quarter. LS Investment Advisors LLC now owns 1,042 shares of the company’s stock valued at $114,000 after buying an additional 133 shares during the last quarter. Israel Discount Bank of New York GFN bought a new stake in BIO-TECHNE Corp during the fourth quarter valued at about $127,000. Elkfork Partners LLC bought a new stake in BIO-TECHNE Corp during the fourth quarter valued at about $210,000. Finally, World Asset Management Inc raised its stake in BIO-TECHNE Corp by 33.3% in the third quarter. World Asset Management Inc now owns 2,417 shares of the company’s stock valued at $265,000 after buying an additional 604 shares during the last quarter. Institutional investors and hedge funds own 94.74% of the company’s stock.
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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