Bio-Techne (NASDAQ:TECH) Hit With “Neutral” Rating From Goldman Sachs, Analysts Expect $190 Stock Price

October 17, 2018 - By Adrian Mccoy

Bio-Techne Corporation (NASDAQ:TECH) Logo

Investors sentiment decreased to 1.01 in 2018 Q2. Its down 0.31, from 1.32 in 2018Q1. It turned negative, as 24 investors sold Bio-Techne Corporation shares while 98 reduced holdings. 39 funds opened positions while 84 raised stakes. 37.29 million shares or 6.51% more from 35.01 million shares in 2018Q1 were reported.

Btim Corporation reported 154,640 shares or 0.34% of all its holdings. Mason Street Advsrs Limited Liability has 19,271 shares for 0.06% of their portfolio. The New York-based Select Equity L P has invested 0% in Bio-Techne Corporation (NASDAQ:TECH). 50,330 are held by State Board Of Administration Of Florida Retirement System. Oregon Pub Employees Retirement Fund reported 14,600 shares. Eagle Asset Mgmt Incorporated invested in 0.05% or 59,115 shares. Moreover, Fincl Bank Of Ny Mellon has 0.02% invested in Bio-Techne Corporation (NASDAQ:TECH) for 505,444 shares. Public Employees Retirement Association Of Colorado accumulated 128,132 shares. Robeco Institutional Asset Bv stated it has 0.02% of its portfolio in Bio-Techne Corporation (NASDAQ:TECH). Ubs Asset Management Americas Inc reported 0% stake. Bogle Investment Mgmt L P De accumulated 43,108 shares. Envestnet Asset Management Incorporated owns 9,796 shares for 0% of their portfolio. Jackson Square Ptnrs Ltd Limited Liability Company invested in 818,920 shares or 0.62% of the stock. Metropolitan Life Ins Communications Ny has 12,754 shares for 0% of their portfolio. The Massachusetts-based Arrowstreet Lp has invested 0.03% in Bio-Techne Corporation (NASDAQ:TECH).

Since May 4, 2018, it had 0 buys, and 4 sales for $4.27 million activity. Eansor Norman David sold 1,136 shares worth $164,932. Kummeth Charles R. sold $1.28 million worth of Bio-Techne Corporation (NASDAQ:TECH) on Thursday, June 7. BAUMGARTNER ROBERT V sold $942,334 worth of Bio-Techne Corporation (NASDAQ:TECH) on Friday, August 24.

Why Has Goldman Sachs Given Bio-Techne (NASDAQ:TECH) a $190 Price Target

Analysts at Goldman Sachs has begun coverage on shares of Bio-Techne (NASDAQ:TECH) in a research note made public on Wednesday morning. The firm set “Neutral” rating on the $6.88B market cap company.

Bio-Techne Corporation (NASDAQ:TECH) Ratings Coverage

Among 4 analysts covering Bio-Techne (NASDAQ:TECH), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Bio-Techne has $230 highest and $16000 lowest target. $190’s average target is 4.21% above currents $182.32 stock price. Bio-Techne had 6 analyst reports since May 3, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, August 9 by Citigroup. On Thursday, May 3 the stock rating was maintained by Deutsche Bank with “Buy”. Leerink Swann maintained Bio-Techne Corporation (NASDAQ:TECH) rating on Thursday, May 3. Leerink Swann has “Buy” rating and $16000 target. The firm has “Hold” rating given on Wednesday, June 27 by Deutsche Bank. The stock has “Buy” rating by Argus Research on Tuesday, October 2.

The stock decreased 1.66% or $3.07 during the last trading session, reaching $182.32. About 82,250 shares traded. Bio-Techne Corporation (NASDAQ:TECH) has risen 60.17% since October 17, 2017 and is uptrending. It has outperformed by 44.55% the S&P500.

Analysts await Bio-Techne Corporation (NASDAQ:TECH) to report earnings on October, 30. They expect $0.88 earnings per share, up 7.32 % or $0.06 from last year’s $0.82 per share. TECH’s profit will be $33.20 million for 51.80 P/E if the $0.88 EPS becomes a reality. After $1.10 actual earnings per share reported by Bio-Techne Corporation for the previous quarter, Wall Street now forecasts -20.00 % negative EPS growth.

Bio-Techne Corporation, together with its subsidiaries, develops, makes, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. The company has market cap of $6.88 billion. It operates through three divisions: Biotechnology, Protein Platforms, and Diagnostics. It has a 55.08 P/E ratio. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.

More notable recent Bio-Techne Corporation (NASDAQ:TECH) news were published by: Nasdaq.com which released: “GICS Changes Scheduled to Take Place in Tech, Communications Sector” on September 21, 2018, also Nasdaq.com with their article: “EXPLAINER-What sector overhaul means for tech stocks, Wall Street” published on September 19, 2018, Benzinga.com published: “Benzinga’s Top Upgrades, Downgrades For October 17, 2018” on October 17, 2018. More interesting news about Bio-Techne Corporation (NASDAQ:TECH) were released by: Seekingalpha.com and their article: “Premarket analyst action – healthcare” published on October 17, 2018 as well as Streetinsider.com‘s news article titled: “Bio-Techne (TECH) Announces Strategic Cooperation Pact with Micropoint Bioscience” with publication date: October 12, 2018.

Bio-Techne Corporation (NASDAQ:TECH) Ratings Chart

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