Monthly Stock Report: Bio-Techne Corporation (TECH)
Publication Date: September 22, 2024
Company Overview
Bio-Techne Corporation (TECH), headquartered in Minneapolis, Minnesota, is a leading player in the biotechnology sector, focusing on healthcare solutions. Founded in 1976, the company is renowned for its development and manufacture of life science reagents, instruments, and services that cater to global research, diagnostic, and bioprocessing markets. Bio-Techne operates through two primary segments—Protein Sciences and Diagnostics & Genomics—offering a variety of advanced biological reagents and diagnostic products, including cytokines, antibodies, and molecular diagnostic assays. With a robust total revenue of approximately $1.16 billion, the company appears primed for growth amidst the promising prospects of the biotech industry. In light of these indicators, the investment outlook is favorable, with analysts rating it as a “buy.”
Financial Performance & Market Sentiment
The current stock price is $78.30, reflecting a solid position within the trading spectrum with significant potential for appreciation. Analysts have set a target high price of $95.00, projecting considerable upside for investors interested in benefiting from the advancements in biotech. The overall price assessment includes a target mean price of $83.32, signaling moderate expected growth, and a target median price of $84.00, positioning the stock around these central values. With a consensus recommendation of “buy” from 13 analysts, the sentiment remains positive, supported by a recommendation mean of 1.9. Notably, Bio-Techne has 158,646,000 shares outstanding, with only about 3,268,993 shares short, which constitutes approximately 2.36% of the float, indicating limited bearish sentiment and an optimistic outlook among investors.
Recent Trading Range & Momentum
Currently, Bio-Techne’s stock is notably trading above its fifty-two week low of $51.79 and is approaching the fifty-two week high of $85.57, signifying strong performance over the past year. The fifty-day average price stands at $75.31, and the current price surpassing this average highlights positive momentum among investors. This combination of favorable price forecasts, robust revenue figures, and limited short interest exemplifies Bio-Techne’s strong market position and may bolster confidence among potential investors looking to capitalize on growth opportunities in the biotechnology field.
In conclusion, with its solid financial foundation and promising industry position, Bio-Techne Corporation continues to offer significant investment potential in a dynamic marketplace.
| Metric | Value |
|---|---|
| Market Cap | $12.4b |
| Total Debt | $419.5m |
| Total Cash | $152.9m |
| Shares Outstanding | 158.6m |
| Float Shares | 156.8m |
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