Bio-Techne (NASDAQ:TECH – Free Report) The price target was cut by Royal Bank of Canada from $72.00 to $70.00 in a research note published on Thursday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on TECH. Robert W. Baird increased his price target on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an outperform rating in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on Bio-Techne from $85.00 to $82.00 and gave the stock a buy rating in a research report on Thursday, April 18. Citigroup downgraded Bio-Techne from a buy rating to a neutral rating and issued a $85.00 price target for the company in a report on Wednesday, May 22. Finally, Benchmark reiterated a buy rating and issued a $95.00 price target on Bio-Techne shares in a report on Thursday, May 2. Four equities analysts have rated the stock with a hold rating and eight have given a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.60.

Check out our latest stock analysis on Bio-Techne

Bio-Techne shares lose 2.2%

NASDAQ:TECH shares opened at $71.77 on Thursday. The company 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. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08 and a quick ratio of 2.88. The company has a 50-day moving average price of $75.83 and a 200-day moving average price of $73.42.

Bio-Techne (NASDAQ:TECH – Get Free Report) last released its quarterly earnings results on Wednesday, August 7. The biotechnology company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The company’s revenue for the quarter increased 1.6% year-over-year. In the same quarter last year, the company generated earnings per share of $0.56. Analysts forecast that Bio-Techne will report earnings per share of $1.56 for the current year.

Bio-Techne announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will receive a dividend of $0.08 per share. This represents an annualized dividend of $0.32 and a yield of 0.45%. The ex-dividend date of this dividend is Monday, August 19th. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

Institutional inflows and outflows

Several large investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC increased its position in shares of Bio-Techne by 59.4% in the second quarter. Mutual of America Capital Management LLC now owns 32,821 shares of the biotechnology company’s stock worth $2,352,000 after buying an additional 12,234 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Bio-Techne in the 2nd quarter valued at about $1,591,000. Dimensional Fund Advisors LP increased its position in shares of Bio-Techne by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after buying an additional 76,641 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Bio-Techne shares by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after purchasing an additional 88,257 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Bio-Techne shares by 922.5% in the second quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 369 shares in the last quarter. 98.95% of the shares are owned by institutional investors.

Company profile of Bio-Techne

(Get free report)

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

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