Analysts expect BIO-TECHNE Corp (NASDAQ:TECH) to announce sales of $180.37 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for BIO-TECHNE’s earnings, with the lowest sales estimate coming in at $177.80 million and the highest estimate coming in at $181.63 million. BIO-TECHNE posted sales of $162.97 million in the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that BIO-TECHNE will report full year sales of $790.50 million for the current financial year, with estimates ranging from $787.35 million to $794.37 million. For the next year, analysts forecast that the firm will post sales of $884.57 million, with estimates ranging from $879.81 million to $893.27 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.08. The business had revenue of $191.66 million for the quarter, compared to analyst estimates of $196.37 million. BIO-TECHNE had a return on equity of 13.20% and a net margin of 13.45%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of BIO-TECHNE from a “buy” rating to a “sell” rating in a report on Tuesday, August 13th. ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. TheStreet cut shares of BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. Janney Montgomery Scott upgraded shares of BIO-TECHNE from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $270.00 in a research report on Tuesday, July 2nd. Finally, BidaskClub cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $211.17.
Shares of NASDAQ:TECH traded down $1.12 during mid-day trading on Friday, reaching $192.78. 5,839 shares of the company’s stock were exchanged, compared to its average volume of 175,824. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 4.24 and a beta of 1.17. The business’s fifty day moving average price is $206.37 and its 200-day moving average price is $199.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.15 and a current ratio of 4.05. BIO-TECHNE has a twelve month low of $132.75 and a twelve month high of $217.15.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.66%. BIO-TECHNE’s payout ratio is 33.68%.
In other news, Director Robert V. Baumgartner acquired 500 shares of BIO-TECHNE stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $191.06 per share, for a total transaction of $95,530.00. Following the completion of the purchase, the director now owns 8,726 shares in the company, valued at $1,667,189.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles R. Kummeth sold 33,031 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $212.60, for a total value of $7,022,390.60. The disclosure for this sale can be found here. Insiders have sold a total of 46,548 shares of company stock worth $9,790,896 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd raised its holdings in shares of BIO-TECHNE by 74.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 420 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 179 shares during the period. Royal Bank of Canada lifted its stake in shares of BIO-TECHNE by 11.3% in the 2nd quarter. Royal Bank of Canada now owns 123,302 shares of the biotechnology company’s stock valued at $25,706,000 after purchasing an additional 12,489 shares during the period. DF Dent & Co. Inc. lifted its stake in shares of BIO-TECHNE by 0.4% in the 2nd quarter. DF Dent & Co. Inc. now owns 601,496 shares of the biotechnology company’s stock valued at $125,406,000 after purchasing an additional 2,545 shares during the period. HM Payson & Co. acquired a new position in shares of BIO-TECHNE in the 2nd quarter valued at $63,000. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of BIO-TECHNE by 21.2% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 59,007 shares of the biotechnology company’s stock valued at $90,894,000 after purchasing an additional 10,304 shares during the period. Institutional investors own 91.87% of the company’s stock.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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