William Blair analyst Matt Larew has maintained their bullish stance on TECH stock, giving a Buy rating on April 21.
Matt Larew has given his Buy rating due to a combination of factors that highlight Bio-Techne’s strong financial performance and resilience in a challenging market environment. The company’s fiscal third-quarter results were largely in line with expectations, with revenue slightly below consensus but showing robust organic growth, particularly in the Protein Sciences segment. This segment not only exceeded revenue expectations but also demonstrated a significant operating margin, contributing to the company’s overall profitability.
Furthermore, Bio-Techne’s adjusted operating income surpassed estimates, showcasing effective cost management and operational efficiency. Despite industry headwinds such as weaker academic and government funding, slower biotech funding, and geopolitical challenges, the company managed to deliver a better-than-expected financial performance. This resilience and the potential for continued growth in the upcoming quarters underpin Larew’s positive outlook and Buy rating for Bio-Techne’s stock.
In another report released on April 21, Robert W. Baird also maintained a Buy rating on the stock with a $51.00 price target.
Based on the recent corporate insider activity of 31 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.