Bio-Techne Corp (NASDAQ: TECH)’s stock price has dropped by -1.21 in relation to previous closing price of 67.87. Nevertheless, the company has seen a loss of -3.41% in its stock price over the last five trading days. InvestorPlace reported 2024-03-28 that Last year was a tough one for biotech stocks. The Securities and Exchange Commission reported 41 bankruptcies following the Fed’s interest rate hiking cycle, making it difficult to finance debt.
Is It Worth Investing in Bio-Techne Corp (NASDAQ: TECH) Right Now?
The price-to-earnings ratio for Bio-Techne Corp (NASDAQ: TECH) is 48.35x, which is above its average ratio. Moreover, the 36-month beta value for TECH is 1.22. Analysts have varying opinions on the stock, with 2 analysts rating it as a “buy,” 4 as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for TECH is 155.58M and currently, short sellers hold a 3.28% of that float. On April 05, 2024, TECH’s average trading volume was 1.08M shares.
TECH’s Market Performance
The stock of Bio-Techne Corp (TECH) has seen a -3.41% decrease in the past week, with a -8.65% drop in the past month, and a -7.06% fall in the past quarter. The volatility ratio for the week is 2.63%, and the volatility levels for the past 30 days are at 3.01% for TECH. The simple moving average for the last 20 days is -6.62% for TECH’s stock, with a simple moving average of -7.34% for the last 200 days.
Analysts’ Opinion of TECH
Many brokerage firms have already submitted their reports for TECH stocks, with Scotiabank repeating the rating for TECH by listing it as a “Sector Outperform.” The predicted price for TECH in the upcoming period, according to Scotiabank is $80 based on the research report published on February 08, 2024 of the current year 2024.
Stifel, on the other hand, stated in their research note that they expect to see TECH reach a price target of $65. The rating they have provided for TECH stocks is “Hold” according to the report published on February 02nd, 2024.
UBS gave a rating of “Buy” to TECH, setting the target price at $80 in the report published on December 07th of the previous year.
TECH Trading at -5.87% from the 50-Day Moving Average
After a stumble in the market that brought TECH to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -25.43% of loss for the given period.
Volatility was left at 3.01%, however, over the last 30 days, the volatility rate increased by 2.63%, as shares sank -10.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.49% lower at present.
During the last 5 trading sessions, TECH fell by -3.41%, which changed the moving average for the period of 200-days by -14.58% in comparison to the 20-day moving average, which settled at $71.42. In addition, Bio-Techne Corp saw -13.10% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at TECH starting from Nusse Roeland, who sale 10,400 shares at the price of $76.98 back on Mar 07 ’24. After this action, Nusse Roeland now owns 43,097 shares of Bio-Techne Corp, valued at $800,627 using the latest closing price.
Nusse Roeland, the Director of Bio-Techne Corp, sale 8,939 shares at $80.32 during a trade that took place back on Aug 30 ’23, which means that Nusse Roeland is holding 51,872 shares at $717,959 based on the most recent closing price.
Stock Fundamentals for TECH
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.67 for the gross margin
The net margin for Bio-Techne Corp stands at 0.2. The total capital return value is set at 0.1. Equity return is now at value 11.82, with 8.80 for asset returns.
Based on Bio-Techne Corp (TECH), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at 0.5. The debt to equity ratio resting at 0.28. The interest coverage ratio of the stock is 20.76.
Currently, EBITDA for the company is 406.18 million with net debt to EBITDA at 1.12. When we switch over and look at the enterprise to sales, we see a ratio of 9.58. The receivables turnover for the company is 5.52for trailing twelve months and the total asset turnover is 0.42. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.37.
Conclusion
To wrap up, the performance of Bio-Techne Corp (TECH) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
