Leerink Partners analyst Puneet Souda maintained a Buy rating on Bio-Techne (TECH) yesterday. The company’s shares closed last Thursday at $357.62.
According to TipRanks.com, Souda is a 5-star analyst with an average return of 31.4% and a 70.8% success rate. Souda covers the Healthcare sector, focusing on stocks such as AbCellera Biologics, Castle Biosciences, and Guardant Health.
Bio-Techne has an analyst consensus of Strong Buy, with a price target consensus of $421.25, which is a 16.5% upside from current levels. In a report issued on February 23, Stifel Nicolaus also upgraded the stock to Buy with a $435.00 price target.
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Based on Bio-Techne’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $224 million and net profit of $46.27 million. In comparison, last year the company earned revenue of $185 million and had a net profit of $120 million.
Based on the recent corporate insider activity of 40 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. Last month, David Eansor, the President-Protein Sciences of TECH sold 32,933 shares for a total of $12,536,831.
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.
