Bio-Techne (NASDAQ:TECH) Given New $84.00 Price Target at Robert W. Baird

Bio-Techne (NASDAQ:TECH) had its price target boosted by stock analysts at Robert W. Baird from $82.00 to $84.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 11.54% from the stock’s previous close.

TECH has been the topic of several other research reports. Royal Bank of Canada dropped their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Stock Up 2.1 %

TECH stock opened at $75.31 on Thursday. The company has a quick ratio of 2.75, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $73.69 and a 200 day moving average of $74.53. Bio-Techne has a twelve month low of $52.99 and a twelve month high of $85.57. The firm has a market cap of $11.95 billion, a PE ratio of 80.12, a price-to-earnings-growth ratio of 5.33 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The firm had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Bio-Techne’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. On average, research analysts forecast that Bio-Techne will post 1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Bio-Techne

A number of hedge funds have recently added to or reduced their stakes in the stock. First City Capital Management Inc. boosted its stake in shares of Bio-Techne by 6.2% in the 1st quarter. First City Capital Management Inc. now owns 3,185 shares of the biotechnology company’s stock worth $224,000 after buying an additional 185 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Bio-Techne by 5.2% during the 1st quarter. Empirical Finance LLC now owns 3,957 shares of the biotechnology company’s stock valued at $279,000 after purchasing an additional 195 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bio-Techne by 12.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,917 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 205 shares during the period. Mather Group LLC. lifted its stake in shares of Bio-Techne by 51.5% in the 3rd quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 208 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Bio-Techne by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 3,773 shares of the biotechnology company’s stock worth $302,000 after buying an additional 214 shares during the last quarter. 98.95% 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 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.