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Bio-Techne Corporation (TECH), headquartered in Minneapolis, Minnesota, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets. Valued at $11.6 billion by market cap, the company specializes in proteins, cytokines, growth factors, immunoassays and small molecules.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and TECH definitely fits that description, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the biotechnology industry. TECH's commitment to innovation, strategic acquisitions, and global presence positions it for continued success. With a strong domestic foothold and international expansion opportunities, TECH is well-equipped to maintain its market share and drive growth.
Despite its notable strength, TECH slipped 14.5% from its 52-week high of $85.57, achieved on May 15. Over the past three months, TECH stock fell 6.6%, outperforming the iShares Biotechnology ETF’s (IBB) 10.3% losses during the same time frame.
In the longer term, shares of TECH declined 5.2% on a YTD basis and dipped 3.6% over the past 52 weeks, underperforming IBB’s YTD losses of 2.3% and 3% returns over the last year.
TECH has been trading below its 50-day and 200-day moving averages recently.
TECH's recent slump is largely due to a sharp decline in biotech and pharma stocks, which was sparked by Trump’s selection of Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services.
On Oct. 30, TECH shares closed up more than 7% after reporting its Q1 results. Its adjusted EPS of $0.42 surpassed Wall Street expectations of $0.38. The company’s revenue was $289.5 million, topping Wall Street forecasts of $280.9 million.
In the competitive arena of life sciences tool and services, Bio-Rad Laboratories, Inc. (BIO) has taken the lead over TECH, showing resilience with 1.4% gains on a YTD basis and 6.2% returns over the past 52 weeks.
Wall Street analysts are bullish on TECH’s prospects. The stock has a consensus “Strong Buy” rating from the 13 analysts covering it, and the mean price target of $85 suggests a potential upside of 16.2% from current price levels.
