Bio-Techne Co. Analysts Recommend "Moderate Buy"

Bio-Techne Co. (NASDAQ:TECH) has garnered a consensus rating of "Moderate Buy" from eight brokerage firms that have been tracking the stock, according to recent reports. Among these ratings, three analysts have assigned a hold rating, while five others have offered a buy rating for the company. The average price target for Bio-Techne over the next year, as established by these analysts, is set at $82.00.

Recent Analyst Upgrades

The stock of Bio-Techne has received multiple mentions in analyst reports. For instance, Robert W. Baird has raised their price target on Bio-Techne shares from $82.00 to $84.00, classifying the stock as "outperform" in a report dated October 31. Additionally, StockNews.com upgraded Bio-Techne from a "hold" to a "buy" rating in a report on November 12. Similarly, Scotiabank increased their price target for Bio-Techne from $83.00 to $88.00, giving the stock a "sector outperform" designation on the same day as Robert W. Baird's report.

Institutional Investor Activity

Recent activities by institutional investors and hedge funds have influenced Bio-Techne's stock. Principal Financial Group Inc. raised its holdings in Bio-Techne by 0.7% during the third quarter, now owning 261,900 shares valued at approximately $20.93 million. Oddo BHF Asset Management Sas has also entered the scene, acquiring a new stake worth about $1.19 million in the same quarter. Further bolstering its position, Synovus Financial Corp increased its stake by 1.5%, now holding 13,223 shares valued at $1.06 million after purchasing 198 additional shares. Tidal Investments LLC has reported a 17.7% increase in its stake, totaling 28,940 shares worth around $2.31 million. Lastly, Wilmington Savings Fund Society FSB has significantly increased its stake by 55.3%, now holding 4,651 shares worth approximately $372,000. It is noteworthy that institutional investors own 98.95% of Bio-Techne's stock.

Stock Performance

As of Wednesday, Bio-Techne shares opened at $73.03. The company’s stock has recorded a low of $61.16 and a high of $85.57 over the past year. Bio-Techne possesses a market capitalization of $11.60 billion, a P/E ratio of 77.69, and a P/E/G ratio of 5.52. The stock's 50-day moving average stands at $73.30, while the 200-day moving average is at $74.36. The company's financials reveal a debt-to-equity ratio of 0.14, a current ratio of 4.56, and a quick ratio of 3.26.

Earnings Report Insights

Bio-Techne's latest earnings report, released on October 30, showcased an earnings per share (EPS) of $0.42 for the quarter, surpassing analysts' expectations of $0.38 by $0.04. During this quarter, the company reported revenues of $289.46 million, exceeding the consensus estimate of $280.22 million. Bio-Techne achieved a net margin of 12.86% and a return on equity of 12.76%. Interestingly, the revenue for this quarter represented a 4.5% increase compared to the previous year, where the EPS was recorded at $0.35. Looking ahead, analysts predict an average EPS of 1.68 for the current fiscal year.

Dividend Announcement

The company has recently declared a quarterly dividend, which was paid on November 22. Shareholders registered by November 11 received a dividend of $0.08 per share, with an ex-dividend date of November 8. This translates to an annualized dividend of $0.32, indicating a dividend yield of 0.44%. Currently, Bio-Techne has a payout ratio of 34.04%.

About Bio-Techne

Bio-Techne Corporation specializes in the development, manufacturing, and sale of life science reagents, instruments, and services aimed at the research and clinical diagnostic markets globally. This includes operations in the United States, the United Kingdom, Europe, the Middle East, Africa, and Asia.

Bio-Techne, Stock, Buy