Initiating Coverage of Bio-Techne With Narrow Moat and $122 FVE
We’re initiating coverage of Bio-Techne, a Minnesota-based biotechnology supplier to the life sciences and diagnostics industry, with a narrow moat and stable trend rating. Our fair value estimate of $122 per share implies a forward price/earnings multiple of 27. At the current market price, we therefore view shares as modestly overvalued.Bio-Techne supplies proteins, antibodies, assays, diagnostic tests, controls, and calibrators primarily to the academic research, biopharma, and clinical diag...
Bio-Techne and its subsidiaries develop, manufacture and sell biotechnology life science reagents, instruments and services for the research and clinical diagnostic markets.Co.'s segments: Protein Sciences, which developes and manufactures purified proteins and reagent solutions, cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents and T-Cell activation technologies; and Diagnostics and Genomics, which develops and manufactures diagnostic products, including Food and Drug Administration-regulated controls, calibrators, blood gas and clinical chemistry controls and other reagents for Original Equipment Manufacturer.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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