Bio-Techne (NASDAQ:TECH) Price Target Raised to $82.00 at Robert W. Baird

Bio-Techne (NASDAQ:TECH) had its target price increased by Robert W. Baird from $81.00 to $82.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

TECH has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bio-Techne from $85.00 to $82.00 and set a buy rating for the company in a research note on Thursday, April 18th. Citigroup lowered Bio-Techne from a buy rating to a neutral rating and set a $85.00 price objective on the stock. in a report on Wednesday, May 22nd. Finally, Benchmark restated a buy rating and issued a $95.00 target price on shares of Bio-Techne in a research note on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $80.60.

Bio-Techne Stock Performance

NASDAQ TECH traded down $1.60 during trading on Thursday, hitting $71.77. The company’s stock had a trading volume of 829,674 shares, compared to its average volume of 1,081,959. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $85.57. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.31 billion, a P/E ratio of 56.96, a price-to-earnings-growth ratio of 8.18 and a beta of 1.29. The firm has a 50 day moving average price of $75.83 and a 200 day moving average price of $73.41.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Bio-Techne’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Bio-Techne will post 1.56 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, August 19th. Bio-Techne’s payout ratio is 25.40%.

Hedge Funds Weigh In On Bio-Techne

Several institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Bio-Techne by 922.5% during the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after buying an additional 369 shares in the last quarter. Industrial Alliance Investment Management Inc. bought a new position in Bio-Techne in the 2nd quarter valued at $31,000. DT Investment Partners LLC bought a new position in Bio-Techne in the 2nd quarter valued at $36,000. Mather Group LLC. acquired a new position in Bio-Techne in the first quarter worth $38,000. Finally, Versant Capital Management Inc grew its holdings in shares of Bio-Techne by 1,427.8% during the second quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 514 shares during the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.