Bio-Techne Corp Analysts Set $70.92 Target Price Amid Mixed Ratings

Bio-Techne Corp (NASDAQ: TECH) has received a consensus target price of **$70.92** from analysts, reflecting a **“Moderate Buy”** recommendation. This assessment comes from **eighteen** ratings firms actively covering the biotechnology company. Among these analysts, one has issued a sell recommendation, five have suggested holding the stock, while eleven have rated it as a buy. In addition, one analyst has assigned a strong buy rating.

Several notable updates from equities research analysts have influenced the market outlook for Bio-Techne. On **October 14, 2023**, **TD Cowen** raised its price target from **$65.00** to **$70.00**, maintaining a buy rating. Following suit, **Argus** increased its target from **$65.00** to **$68.00** in a report dated **November 20, 2023**. **Deutsche Bank Aktiengesellschaft** has set a price target of **$72.00** while recommending a buy rating. Additionally, **UBS Group** boosted its price objective from **$65.00** to **$70.00** on **November 6, 2023**.

Current Market Position and Financial Performance

As of **Wednesday**, Bio-Techne’s shares opened at **$58.51**, reflecting a **2.9%** decline in trading. The stock has seen fluctuations over the past year, with a low of **$46.01** and a high of **$79.28**. The company’s financial metrics reveal a market capitalization of **$9.12 billion**, a price-to-earnings ratio of **119.41**, and a PEG ratio of **3.92**. Notably, Bio-Techne has a current ratio of **4.22** and a quick ratio of **2.81**, indicating a strong liquidity position.

On **November 5, 2023**, Bio-Techne announced its quarterly earnings, reporting an **earnings per share (EPS)** of **$0.42**, which met analysts’ consensus estimates. The company recorded total revenue of **$286.56 million**, slightly below expectations of **$292.02 million**. This represented a **1.0%** decrease in revenue compared to the same period last year, where it also reported an EPS of **$0.42**. The company’s return on equity stood at **13.59%**, with a net margin of **6.41%**.

Dividend Declaration and Future Outlook

Furthermore, Bio-Techne recently declared a quarterly dividend of **$0.08** per share, which was paid on **November 28, 2023**. Shareholders of record as of **November 17, 2023**, received this dividend, translating to an annualized dividend of **$0.32** and a yield of **0.5%**. The company’s dividend payout ratio is currently **65.31%**, indicating a stable commitment to returning value to shareholders.

As Bio-Techne continues to navigate the competitive landscape of the life sciences sector, analysts forecast an average EPS of **1.67** for the current year. The company, alongside its subsidiaries, develops and sells life science reagents, instruments, and services for both research and clinical diagnostics across various regions, including the United States, the United Kingdom, Europe, the Middle East, Africa, Greater China, and the Asia-Pacific region.

With a strong foundation and optimistic analyst feedback, Bio-Techne Corp remains a significant player in the biotechnology market, poised for future growth and development.