Bio-Techne Corporation (NASDAQ:TECH) currently has a daily average trading volume of 1.06M but it saw 980728 shares traded on Wednesday. With a market cap of 12.77B USD, stock’s current market price of $81.73 came falling about -1.78 while comparing to the previous closing price of $83.21. In past 52 weeks, the stock remained buoying in the range of price level as high as $99.33 and as low as $68.00. In the recent trading on the day, stock has struck highest price mark of $82.36 while lowest mark touched by it was $80.30.
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Taking a look at 20-day trading activity of Bio-Techne Corporation (TECH) gives us an average price of $81.96, while its current price level is -17.72% below from 52-week high level whereas it is 20.19% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $78.93 while that of 200 days or SMA-200 reads an average of $79.65. A closer look into the stock’s movement over the week reveals that its volatility is standing at 2.35% during that period while stretching the period over a month that increases to 2.94%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 50.77 which implies that the stock is in neutral territory.
Bio-Techne Corporation (TECH)’s stock is currently under the radar of 14 analysts who are in consensus at a 12-month price target range of between $88.00 and $120.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $88.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $120.00. Average price target assigned by them is $101.07 which highlights an upside potential of 19.14% for the stock over that period. And to attain the median price target of $100.00 assigned by those analysts, stock has to add about 18.27% of value to its current levels.
Data by FactSet Research shows that 14 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 10 analysts suggested the investors to Buy the stock while 3 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Strong Buy.
Over the week, TECH’s stock price is moving -0.38% down while it is 3.81% when we observe its performance for the past one month. Year-to-date it is -1.39% down and over the past year, the stock is showing a downside performance of -10.31%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.53 beat the consensus estimate of $0.53 for the same. The company is expected to be releasing its next quarterly report in 08/08/2023, for which analysts forecasted an EPS of $0.55 while estimate for next year EPS is $1.99. For TECH, analysts are forecasting an EPS-growth rate of 1.00% for current year and estimate for EPS growth in next year is 21.10%. In next quarter, company is expected to be making quarterly sales of $302.12 million as analysts are expecting the sales for current fiscal year at $1.14 billion and seeing the company making $1.28 billion in sales next year. Moreover, analysts are in estimates of $308.72 million for current-quarter revenue.
Currently, Bio-Techne Corporation’s total number of outstanding shares is 157.31M with 0.89% of that held by the insiders while 96.51% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 13.20% and return on equity (ROE) at 15.10%. It has a price to earnings ratio (P/E ratio) of 48.91 while having a 33.94 of forward P/E ratio. Stock’s beta reads 1.25. Stock has a price to book (P/B) ratio of 6.81 while price to sale or P/S ratio amounts to 11.37. Its return on asset (ROA) is 11.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that Vanguard Total Stock Market ETF came shrinking its share ownership by 0.55% in the Bio-Techne Corporation (TECH) increasing its stake to 3.11% with control over 26770.0 shares in the company. As per SEC documents, Vanguard Total Stock Market ETF shunned 4,891,676 of company’s common stock of worth $390.75 million as per recent closing price of the stock. Vanguard Total Stock Market ETF is not the only institutional holder which restructured its stake in Bio-Techne Corporation, as Vanguard Small Cap Index Fund dumped 4,114,436 shares of worth $328.66 million to bring its holdings to a total of 1008.0 shares. In the most recent quarter, Vanguard 500 Index Fund came rising its stake by 0.54% in the company and now holds 3.69 million or 2.35% of the company’s stake having worth of about 294.86 million.
