TECH

William Blair Initiates Coverage of Bio-Techne (TECH) with Outperform Recommendation

Fintel reports that on August 28, 2023, William Blair initiated coverage of Bio-Techne (NASDAQ:TECH) with a Outperform recommendation.

Analyst Price Forecast Suggests 28.50% Upside

As of August 2, 2023, the average one-year price target for Bio-Techne is 103.01. The forecasts range from a low of 87.87 to a high of $126.00. The average price target represents an increase of 28.50% from its latest reported closing price of 80.16.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Bio-Techne is 1,387MM, an increase of 22.02%. The projected annual non-GAAP EPS is 2.52.

What is the Fund Sentiment?

There are 1189 funds or institutions reporting positions in Bio-Techne. This is a decrease of 46 owner(s) or 3.72% in the last quarter. Average portfolio weight of all funds dedicated to TECH is 0.32%, a decrease of 2.89%. Total shares owned by institutions increased in the last three months by 0.79% to 185,827K shares. TECH / Bio-Techne Corp Put/Call Ratios The put/call ratio of TECH is 0.16, indicating a bullish outlook.

What are Other Shareholders Doing?

TECH / Bio-Techne Corp Shares Held by Institutions

Bamco holds 5,380K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 5,379K shares, representing an increase of 0.02%. The firm increased its portfolio allocation in TECH by 1.51% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,865K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 4,772K shares, representing an increase of 1.92%. The firm decreased its portfolio allocation in TECH by 15.73% over the last quarter.

Select Equity Group holds 4,514K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 5,641K shares, representing a decrease of 24.96%. The firm decreased its portfolio allocation in TECH by 7.91% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,116K shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 4,044K shares, representing an increase of 1.75%. The firm decreased its portfolio allocation in TECH by 12.56% over the last quarter.

Price T Rowe Associates holds 4,067K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 508K shares, representing an increase of 87.52%. The firm increased its portfolio allocation in TECH by 716.19% over the last quarter.

Bio-Techne Background Information
(This description is provided by the company.)

Bio-Techne Corporation is a holding company for biotechnology and clinical diagnostic brands. It was founded in 1976 as Techne Corporation and changed its name to Bio-Techne in 2014.

Additional reading:

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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