Bio-Techne (TECH) Gets a Hold Rating from Wells Fargo


In a report released today, Dan Leonard from Wells Fargo maintained a Hold rating on Bio-Techne (TECH). The company’s shares closed last Tuesday at $276.89, close to its 52-week high of $286.68.

According to TipRanks.com, Leonard is a 4-star analyst with an average return of 8.1% and a 63.8% success rate. Leonard covers the Healthcare sector, focusing on stocks such as Bio-Rad Laboratories, Quest Diagnostics, and Mettler-Toledo.

Currently, the analyst consensus on Bio-Techne is a Moderate Buy with an average price target of $278.25.

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Bio-Techne’s market cap is currently $10.66B and has a P/E ratio of 58.20. The company has a Price to Book ratio of 299.61.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TECH in relation to earlier this year. Most recently, in June 2020, Harold Wiens, a Director at TECH sold 3,985 shares for a total of $1,036,100.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Bio-Techne Corp. engages in the development, manufacture and sale of biotechnology reagents and instruments for the research and clinical diagnostic markets. It operates through the following segments: Biotechnology, Protein Platforms, Diagnostics, and Corporate. The Biotechnology segment supplies specialized proteins, such as cytokines and growth factors, immunoassays, antibodies and related reagents, as well as in situ hybridization, media and other cell culture products and reagents to the biotechnology research community. The Protein Platforms segment develops, manufactures, and sells tools to simplify protein analysis. The Diagnostics segment includes blood chemistry and blood gas quality controls, hematology instrument controls, diagnostic immunoassays, and other bulk and custom reagents for the in vitro diagnostic market worldwide. The company was founded on 1976 and is headquartered in Minneapolis, MN.

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