BIO-TECHNE (TECH) Given a $165.00 Price Target at Goldman Sachs Group

Goldman Sachs Group set a $165.00 price target on BIO-TECHNE (NASDAQ:TECH) in a research report released on Friday. The firm currently has a hold rating on the biotechnology company’s stock.

A number of other research firms have also issued reports on TECH. Zacks Investment Research lowered BIO-TECHNE from a hold rating to a sell rating in a report on Thursday, September 27th. Argus boosted their target price on BIO-TECHNE from $210.00 to $230.00 and gave the company a buy rating in a report on Tuesday, October 2nd. BidaskClub lowered BIO-TECHNE from a strong-buy rating to a buy rating in a report on Thursday, October 4th. ValuEngine raised BIO-TECHNE from a buy rating to a strong-buy rating in a report on Tuesday, September 11th. Finally, Citigroup boosted their target price on BIO-TECHNE from $160.00 to $205.00 and gave the company a buy rating in a report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $181.00.

NASDAQ TECH traded down $0.96 on Friday, reaching $161.42. The stock had a trading volume of 180,047 shares, compared to its average volume of 229,776. The company has a current ratio of 4.59, a quick ratio of 3.50 and a debt-to-equity ratio of 0.49. BIO-TECHNE has a 12-month low of $125.84 and a 12-month high of $206.04. The stock has a market cap of $6.13 billion, a P/E ratio of 39.66, a P/E/G ratio of 2.86 and a beta of 1.04.

BIO-TECHNE (NASDAQ:TECH) last released its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The business had revenue of $163.00 million for the quarter, compared to analyst estimates of $162.34 million. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, research analysts predict that BIO-TECHNE will post 3.79 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, November 8th. BIO-TECHNE’s dividend payout ratio is presently 31.45%.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in BIO-TECHNE by 2.5% during the second quarter. BlackRock Inc. now owns 3,776,455 shares of the biotechnology company’s stock worth $558,726,000 after acquiring an additional 91,519 shares during the period. Vanguard Group Inc. grew its holdings in BIO-TECHNE by 2.4% during the third quarter. Vanguard Group Inc. now owns 3,361,425 shares of the biotechnology company’s stock worth $686,101,000 after acquiring an additional 77,626 shares during the period. Schroder Investment Management Group grew its holdings in BIO-TECHNE by 975.1% during the second quarter. Schroder Investment Management Group now owns 2,211,502 shares of the biotechnology company’s stock worth $85,499,000 after acquiring an additional 2,005,804 shares during the period. Janus Henderson Group PLC grew its holdings in BIO-TECHNE by 5.8% during the second quarter. Janus Henderson Group PLC now owns 1,393,027 shares of the biotechnology company’s stock worth $206,098,000 after acquiring an additional 76,538 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in BIO-TECHNE by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 677,968 shares of the biotechnology company’s stock worth $138,381,000 after acquiring an additional 79,963 shares during the period. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

BIO-TECHNE Company Profile

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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