BIO-TECHNE Corp (NASDAQ:TECH) has been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $198.50.
Several brokerages have recently weighed in on TECH. Janney Montgomery Scott upgraded BIO-TECHNE from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $270.00 in a research note on Tuesday, July 2nd. TheStreet downgraded BIO-TECHNE from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. ValuEngine downgraded BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. BidaskClub upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded BIO-TECHNE from a “buy” rating to a “sell” rating in a research note on Tuesday, August 13th.
In other news, CEO Charles R. Kummeth sold 33,031 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $212.60, for a total transaction of $7,022,390.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert V. Baumgartner purchased 500 shares of BIO-TECHNE stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $191.06 per share, for a total transaction of $95,530.00. Following the transaction, the director now directly owns 8,726 shares of the company’s stock, valued at approximately $1,667,189.56. The disclosure for this purchase can be found here. 4.20% of the stock is owned by company insiders.
Shares of TECH stock traded down $0.91 on Thursday, reaching $197.50. 162,425 shares of the stock were exchanged, compared to its average volume of 174,359. The stock has a market cap of $7.48 billion, a P/E ratio of 51.97, a price-to-earnings-growth ratio of 4.30 and a beta of 1.21. The company has a quick ratio of 3.15, a current ratio of 4.05 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $194.43 and a two-hundred day moving average of $200.24. BIO-TECHNE has a 1-year low of $132.75 and a 1-year high of $217.15.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.08. The firm had revenue of $191.66 million during the quarter, compared to the consensus estimate of $196.37 million. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. On average, equities research analysts predict that BIO-TECHNE will post 4.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.65%. BIO-TECHNE’s dividend payout ratio is presently 33.68%.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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