According to a recent report from Bloomberg.com, Bio-Techne Co. (NASDAQ:TECH) has received an average rating of “Moderate Buy” from nine different ratings firms that currently cover the company. Out of these nine firms, two research analysts have recommended holding the stock, while seven have given it a buy recommendation.
Furthermore, analysts who have updated their coverage on the stock in the past year have set an average twelve-month price target of $101.58. This suggests potential growth for investors who choose to purchase shares in the company.
In other notable news, Director Roeland Nusse recently sold 8,939 shares of Bio-Techne stock on August 30th at an average price of $80.32 per share. The total value of this transaction amounts to $717,980.48. Following this sale, Nusse now owns 51,872 shares of the company’s stock, which are valued at approximately $4,166,359.04.
The details of this transaction were disclosed in a filing with the SEC and can be viewed through the provided link.
Moreover, CEO Charles R. Kummeth also sold 80,000 shares of Bio-Techne stock on July 21st at an average price of $88.36 per share. The total value of this transaction is stated to be $7,068,800.00. After completing this sale, Kummeth possesses 1,258,766 shares directly in the company which are valued at around $111,224,d563.76.
It is worth noting that company insiders own approximately 4.45% of Bio-Techne’s stock.
On August 8th, Bio-Techne announced its quarterly earnings results. For that quarter, the biotechnology firm reported earnings per share (EPS) of $0.56—exceeding analysts’ consensus estimates by $0.07. Additionally, Bio-Techne achieved a return on equity of 15.47% and a net margin of 25.10%. The company’s revenue for the quarter amounted to $301.32 million, slightly falling short of the consensus estimate of $304.71 million.
Based on analyst forecasts, it is expected that Bio-Techne will post an EPS of 1.74 for the current fiscal year.
These recent developments and financial performance indicators suggest that Bio-Techne is experiencing positive momentum in the biotechnology industry. Investors may find it valuable to consider these factors when making investment decisions regarding the company’s stock.
Bio-Techne Gains Attention and Mixed Ratings from Analysts
October 2, 2023 – In recent weeks, Bio-Techne (NASDAQ:TECH) has captured the attention of equities research analysts, prompting a flurry of reports and ratings on the company’s stock. These updates have offered investors a variety of perspectives on the potential value and future performance of Bio-Techne.
Benchmark, a leading investment firm, reasserted its “buy” rating for Bio-Techne shares while setting a price target of $120.00. This recommendation reflects their belief that the company’s stock offers an attractive opportunity for growth and potential return on investment. Similarly, Stephens gave an “overweight” rating to Bio-Techne along with a target price of $100.00, indicating confidence in above-average performance compared to competitors.
Another noteworthy addition to the chorus of positive opinions came from William Blair, which initiated coverage on Bio-Techne with an “outperform” rating. This move further enhances the sentiment that the company is poised for upward momentum in its sector. However, StockNews.com took a different stance by downgrading Bio-Techne from “buy” to “hold,” advising caution in light of their assessment.
Royal Bank of Canada maintained a neutral outlook with its “sector perform” rating and set a target price of $86.00 for Bio-Techne shares. While not explicitly bullish or bearish, this evaluation suggests they expect the stock to stabilize and perform in line with its specific industry sector.
Turning our attention beyond research analyst reports, it is notable that hedge funds and other institutional investors have recently adjusted their positions in Bio-Techne stock. Quantbot Technologies LP acquired new shares during Q1 2023 at an estimated value of approximately $56,000. Harbour Investments Inc., meanwhile, significantly increased its stake by over 300% during Q4 2022. Other investors such as Orion Capital Management LLC and Exchange Traded Concepts LLC also made small investments in Bio-Techne during this period. Huntington National Bank witnessed the largest boost in holdings, growing its presence in the company’s stock by 124.7%.
On Monday, October 2nd, Bio-Techne shares opened at $68.07 on the NASDAQ exchange. The company’s stock has experienced a one-year low of $66.59 and a high of $90.63, displaying some volatility over the past twelve months. With a market capitalization of approximately $10.77 billion, a price-to-earnings ratio of 38.62, and a beta of 1.21, Bio-Techne finds itself as an intriguing player in the biotechnology industry.
Investors should take note that Bio-Techne’s fifty-day moving average price is currently at $77.73 with its two-hundred-day moving average at $79.09. These figures provide essential context for evaluating the short-term and long-term trends associated with Bio-Techne’s stock performance.
Bio-Techne boasts an impressive debt-to-equity ratio of 0.18, indicating that it maintains a relatively lightweight debt burden compared to its equity base. Furthermore, the company displays strong liquidity ratios, including a quick ratio of 3.50 and current ratio of 4.84 – highlighting its ability to fulfill short-term obligations promptly.
In conclusion, Bio-Techne has garnered significant attention from equities research analysts lately due to its potential for growth and value creation in the biotechnology sector. Ratings from Benchmark, Stephens, William Blair, StockNews.com, and Royal Bank of Canada have all shed light on differing perspectives regarding Bio-Techne’s prospects.
It is worth noting that hedge funds and other institutional investors have also taken notice and adjusted their positions accordingly with varying degrees of investment.
Overall market performance can be characterized as having some volatile tendencies based on historical data, with the stock experiencing both highs and lows in recent times. However, Bio-Techne’s solid debt-to-equity ratio and strong liquidity position suggest a relatively stable financial foundation.
Investors eager to participate in the biotechnology industry should carefully consider these developments and conduct thorough research before making any investment decisions regarding Bio-Techne.