Zacks Investment Research upgraded shares of BIO-TECHNE (NASDAQ:TECH) from a hold rating to a buy rating in a research note published on Saturday morning. Zacks Investment Research currently has $158.00 price objective on the biotechnology company’s stock.
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 research firms have also issued reports on TECH. BidaskClub raised BIO-TECHNE from a hold rating to a buy rating in a research report on Wednesday, January 10th. Deutsche Bank set a $145.00 price target on BIO-TECHNE and gave the stock a buy rating in a research report on Tuesday, October 31st. Citigroup reaffirmed a buy rating and issued a $115.00 price target (down previously from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Robert W. Baird reaffirmed a buy rating and issued a $154.00 price target on shares of BIO-TECHNE in a research report on Thursday, January 18th. Finally, Leerink Swann reaffirmed a buy rating on shares of BIO-TECHNE in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $143.00.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.82 by $0.08. The business had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. BIO-TECHNE had a return on equity of 14.11% and a net margin of 12.54%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. equities research analysts forecast that BIO-TECHNE will post 3.77 EPS for the current fiscal year.
In other news, Director Robert V. Baumgartner sold 5,000 shares of BIO-TECHNE stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the transaction, the director now owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECH. Janus Henderson Group PLC increased its holdings in BIO-TECHNE by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock worth $139,603,000 after buying an additional 914,554 shares in the last quarter. Koch Industries Inc. bought a new stake in BIO-TECHNE in the 2nd quarter worth about $286,000. Lord Abbett & CO. LLC increased its holdings in BIO-TECHNE by 51.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock worth $38,455,000 after buying an additional 111,629 shares in the last quarter. BlackRock Inc. increased its holdings in BIO-TECHNE by 1.7% in the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock worth $418,485,000 after buying an additional 61,138 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in BIO-TECHNE by 18.6% in the 3rd quarter. First Trust Advisors LP now owns 361,521 shares of the biotechnology company’s stock worth $43,704,000 after buying an additional 56,775 shares in the last quarter. Institutional investors own 96.94% of the company’s stock.
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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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