BIO-TECHNE (TECH) Raised to “Buy” at Zacks Investment Research

BIO-TECHNE (NASDAQ:TECH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage presently has a $158.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.28% from the company’s current price.

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. “

Several other equities research analysts also recently weighed in on TECH. Citigroup reissued a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Deutsche Bank set a $145.00 target price on shares of BIO-TECHNE and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BidaskClub downgraded shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Leerink Swann reissued a “buy” rating on shares of BIO-TECHNE in a research report on Tuesday, December 5th. Finally, Robert W. Baird reissued a “buy” rating and issued a $154.00 target price on shares of BIO-TECHNE in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $143.00.

BIO-TECHNE (NASDAQ:TECH) traded up $0.70 on Friday, hitting $140.72. 193,657 shares of the stock traded hands, compared to its average volume of 134,221. The company has a market cap of $5,245.46, a P/E ratio of 72.91, a P/E/G ratio of 3.18 and a beta of 0.75. BIO-TECHNE has a one year low of $95.68 and a one year high of $141.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25.

BIO-TECHNE (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 Thomson Reuters’ consensus estimate of $0.82 by $0.08. The company had revenue of $144.61 million during the quarter, compared to the consensus estimate of $142.37 million. BIO-TECHNE had a net margin of 12.54% and a return on equity of 14.11%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 EPS. sell-side analysts expect that BIO-TECHNE will post 3.77 earnings per share for the current year.

In related news, Director Robert V. Baumgartner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.40% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Eaton Vance Management grew its position in shares of BIO-TECHNE by 0.4% during the 2nd quarter. Eaton Vance Management now owns 2,566 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 9 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its position in shares of BIO-TECHNE by 0.3% during the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 8,332 shares of the biotechnology company’s stock valued at $979,000 after buying an additional 25 shares during the last quarter. 1st Global Advisors Inc. grew its position in shares of BIO-TECHNE by 0.7% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,542 shares of the biotechnology company’s stock valued at $651,000 after buying an additional 37 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of BIO-TECHNE by 1.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 11,172 shares of the biotechnology company’s stock valued at $1,313,000 after buying an additional 173 shares during the last quarter. Finally, Stifel Financial Corp grew its position in shares of BIO-TECHNE by 2.0% during the 2nd quarter. Stifel Financial Corp now owns 9,103 shares of the biotechnology company’s stock valued at $1,072,000 after buying an additional 175 shares during the last quarter. 96.96% of the stock is owned by institutional investors and hedge funds.

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About BIO-TECHNE

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 (NASDAQ:TECH)

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