Bio-Techne (NASDAQ:TECH – Get Free Report) announced its quarterly earnings results on Wednesday. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52, FiscalAI reports. The company had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.37%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share.
Bio-Techne Trading Down 0.1%
Shares of TECH opened at $72.17 on Friday. Bio-Techne has a fifty-two week low of $43.19 and a fifty-two week high of $72.39. The company has a market capitalization of $11.30 billion, a PE ratio of 62.76, a price-to-earnings-growth ratio of 8.60 and a beta of 1.28. The stock has a fifty day moving average of $66.99 and a two-hundred day moving average of $59.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49.
Bio-Techne Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 24th will be issued a $0.65 dividend. This is a boost from Bio-Techne’s previous quarterly dividend of $0.08. The ex-dividend date is Monday, August 24th. This represents a $2.60 annualized dividend and a yield of 3.6%. Bio-Techne’s payout ratio is presently 27.83%.
Hedge Funds Weigh In On Bio-Techne
Analyst Upgrades and Downgrades
TECH has been the topic of a number of recent research reports. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and upped their target price for the company from $70.00 to $73.00 in a research note on Friday, June 26th. Royal Bank Of Canada cut Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $62.00 to $73.00 in a report on Thursday, July 9th. Wells Fargo & Company downgraded Bio-Techne from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $62.00 to $73.00 in a research report on Thursday. Stephens set a $73.00 price objective on Bio-Techne and gave the company an “equal weight” rating in a research note on Friday, June 26th. Finally, Benchmark cut Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.92.
Read Our Latest Stock Analysis on Bio-Techne
Key Headlines Impacting Bio-Techne
Here are the key news stories impacting Bio-Techne this week:
- Positive Sentiment: Bio-Techne reported fiscal fourth-quarter revenue of approximately $321.2 million, exceeding the $314.6 million analyst estimate. Organic revenue grew 3%, supported by strong performance in Diagnostics and Spatial Biology, while GAAP earnings improved substantially year over year. Reuters earnings article
- Positive Sentiment: The company’s corrected dividend announcement specifies a quarterly payment of $0.65 per share, payable August 28 to shareholders of record August 24. The payment implies an annualized yield of roughly 3.6%, although the correction indicates the earlier August 17 record date was incorrect. Bio-Techne dividend correction
- Neutral Sentiment: Wells Fargo downgraded TECH from “overweight” to “equal weight” but raised its price target from $62 to $73. The revised target is only modestly above the stock’s recent trading level, suggesting the analyst sees limited near-term upside.
- Negative Sentiment: Quarterly EPS of $0.52 matched estimates but declined from $0.53 a year earlier, and full-year revenue was essentially flat. In addition, Merck’s agreed $73-per-share cash acquisition effectively caps the stock’s value near the offer price unless deal terms change or a competing bid emerges.
Bio-Techne Company Profile
Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.
Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.
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