Wall Street brokerages expect BIO-TECHNE Corp (NASDAQ:TECH) to post earnings of $1.14 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for BIO-TECHNE’s earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.17. BIO-TECHNE reported earnings of $0.97 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.5%. The firm is scheduled to report its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that BIO-TECHNE will report full year earnings of $4.27 per share for the current year, with EPS estimates ranging from $3.98 to $4.43. For the next financial year, analysts anticipate that the business will report earnings of $4.83 per share, with EPS estimates ranging from $4.40 to $5.03. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.10. The company had revenue of $154.15 million during the quarter, compared to the consensus estimate of $145.93 million. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share.
TECH has been the subject of several analyst reports. Zacks Investment Research raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research report on Saturday, January 20th. Citigroup reissued a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Leerink Swann reissued a “buy” rating on shares of BIO-TECHNE in a research report on Tuesday, December 5th. Deutsche Bank set a $145.00 target price on shares of BIO-TECHNE and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $154.00 target price on shares of BIO-TECHNE in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $145.00.
Shares of BIO-TECHNE (NASDAQ TECH) traded down $0.30 on Tuesday, hitting $141.20. 206,400 shares of the company traded hands, compared to its average volume of 185,462. The company has a market capitalization of $5,291.33, a P/E ratio of 46.30, a P/E/G ratio of 2.58 and a beta of 0.78. The company has a quick ratio of 2.49, a current ratio of 3.10 and a debt-to-equity ratio of 0.36. BIO-TECHNE has a 12 month low of $98.22 and a 12 month high of $143.64.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, February 15th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 41.97%.
In other BIO-TECHNE news, Director Charles A. Dinarello sold 5,000 shares of BIO-TECHNE stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $136.06, for a total value of $680,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of BIO-TECHNE by 2.0% during the 2nd quarter. Stifel Financial Corp now owns 9,103 shares of the biotechnology company’s stock worth $1,072,000 after acquiring an additional 175 shares during the last quarter. Amalgamated Bank boosted its stake in shares of BIO-TECHNE by 5.4% during the 4th quarter. Amalgamated Bank now owns 7,772 shares of the biotechnology company’s stock worth $1,007,000 after acquiring an additional 399 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of BIO-TECHNE by 14.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 3,520 shares of the biotechnology company’s stock worth $456,000 after acquiring an additional 440 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of BIO-TECHNE by 17.5% during the 4th quarter. Jane Street Group LLC now owns 3,016 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 449 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of BIO-TECHNE by 3.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,180 shares of the biotechnology company’s stock worth $1,473,000 after acquiring an additional 452 shares during the last quarter. Institutional investors and hedge funds own 98.00% of the company’s stock.
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BIO-TECHNE Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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