Techne (NASDAQ: TECH) was downgraded by equities research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $71.00 price target on the stock, down from their previous price target of $81.00.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls. These activities are conducted domestically through its wholly owned subsidiaries, Research and Diagnostic Systems, Inc. (R&D Systems) and BiosPacific, Inc. (BiosPacific). The Company distributes biotechnology products in Europe through its wholly owned United Kingdom subsidiary, R&D Systems Europe Ltd. (R&D Europe). R&D Europe has a sales subsidiary, R&D Systems GmbH, in Germany and a sales office in France. The Company distributes biotechnology products in China through its wholly owned subsidiary, R&D Systems China, Co. Ltd. (R&D China). It operates in three segments: biotechnology, which consists of R&D Systems Biotechnology Division, BiosPacific and R&D China; R&D Europe distributes Biotechnology Division products, and hematology segment develops and manufactures hematology controls and calibrators.
Techne opened at 68.25 on Wednesday. Techne has a 52-week low of $62.04 and a 52-week high of $86.43. The stock has a 50-day moving average of $68.4 and a 200-day moving average of $69.83. The company has a market cap of $2.525 billion and a price-to-earnings ratio of 22.38.
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