Zacks Investment Research lowered shares of Bio-Techne Corp (NASDAQ:TECH) from a buy rating to a hold rating in a report published on Tuesday 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. “
Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Bio-Techne Corp from a c+ rating to a b rating in a research report on Tuesday, May 2nd. Deutsche Bank AG boosted their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. Citigroup Inc. reiterated a buy rating and issued a $125.00 price target (up from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. BidaskClub upgraded shares of Bio-Techne Corp from a hold rating to a buy rating in a research report on Tuesday, June 27th. Finally, Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They issued a market perform rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $127.50.
Bio-Techne Corp (TECH) opened at 117.90 on Tuesday. The firm has a market capitalization of $4.40 billion, a PE ratio of 57.23 and a beta of 0.79. Bio-Techne Corp has a 1-year low of $95.68 and a 1-year high of $121.94. The stock’s 50 day moving average is $116.61 and its 200-day moving average is $109.56.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The business had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same period in the previous year, the business earned $0.92 earnings per share. The company’s revenue was up 16.2% on a year-over-year basis. Equities research analysts forecast that Bio-Techne Corp will post $3.99 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 16th. Bio-Techne Corp’s dividend payout ratio (DPR) is presently 65.98%.
In other Bio-Techne Corp news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $111.37, for a total value of $556,850.00. Following the sale, the director now directly owns 12,473 shares in the company, valued at $1,389,118.01. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 10,300 shares of company stock worth $1,147,078. 2.70% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Israel Discount Bank of New York acquired a new stake in shares of Bio-Techne Corp during the first quarter valued at approximately $105,000. Flinton Capital Management LLC boosted its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bio-Techne Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after buying an additional 163 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 99.17% 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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