BIO-TECHNE Corp (TECH) Expected to Post Quarterly Sales of $145.90 Million

Equities research analysts expect that BIO-TECHNE Corp (NASDAQ:TECH) will post $145.90 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for BIO-TECHNE’s earnings. The lowest sales estimate is $144.93 million and the highest is $147.50 million. BIO-TECHNE reported sales of $131.81 million in the same quarter last year, which indicates a positive year over year growth rate of 10.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that BIO-TECHNE will report full year sales of $145.90 million for the current financial year, with estimates ranging from $615.56 million to $627.10 million. For the next fiscal year, analysts expect that the business will report sales of $667.98 million per share, with estimates ranging from $653.69 million to $673.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow BIO-TECHNE.

BIO-TECHNE (NASDAQ:TECH) last announced its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. BIO-TECHNE had a net margin of 12.54% and a return on equity of 14.11%. The business had revenue of $144.61 million during the quarter, compared to analysts’ expectations of $142.37 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis.

TECH has been the subject of several recent research reports. Zacks Investment Research upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a report on Saturday, November 4th. Deutsche Bank set a $145.00 target price on shares of BIO-TECHNE and gave the stock a “buy” rating in a report on Tuesday, October 31st. Citigroup restated a “buy” rating and set a $115.00 target price (down previously from $125.00) on shares of BIO-TECHNE in a report on Tuesday, October 24th. Leerink Swann restated a “buy” rating on shares of BIO-TECHNE in a report on Tuesday, December 5th. Finally, BidaskClub cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $135.00.

Shares of BIO-TECHNE (NASDAQ:TECH) traded up $1.46 on Tuesday, reaching $136.38. 185,932 shares of the company traded hands, compared to its average volume of 176,500. BIO-TECHNE has a fifty-two week low of $95.68 and a fifty-two week high of $137.34. The firm has a market capitalization of $5,038.29, a PE ratio of 70.66, a price-to-earnings-growth ratio of 3.36 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25.

In other BIO-TECHNE news, Director Robert V. Baumgartner sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total value of $650,900.00. Following the completion of the sale, the director now owns 12,712 shares in the company, valued at $1,654,848.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TECH. Schwab Charles Investment Management Inc. lifted its stake in BIO-TECHNE by 3.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 184,110 shares of the biotechnology company’s stock valued at $21,633,000 after acquiring an additional 5,447 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in BIO-TECHNE by 0.7% in the second quarter. State of Wisconsin Investment Board now owns 7,392 shares of the biotechnology company’s stock valued at $869,000 after acquiring an additional 50 shares during the last quarter. Legal & General Group Plc lifted its stake in BIO-TECHNE by 25.6% in the second quarter. Legal & General Group Plc now owns 30,496 shares of the biotechnology company’s stock valued at $3,583,000 after acquiring an additional 6,208 shares during the last quarter. Prudential Financial Inc. lifted its stake in BIO-TECHNE by 1.4% in the second quarter. Prudential Financial Inc. now owns 23,555 shares of the biotechnology company’s stock valued at $2,768,000 after acquiring an additional 330 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in BIO-TECHNE by 4.2% in the second quarter. Pacer Advisors Inc. now owns 4,346 shares of the biotechnology company’s stock valued at $511,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 96.96% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “BIO-TECHNE Corp (TECH) Expected to Post Quarterly Sales of $145.90 Million” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/01/06/bio-techne-corp-tech-expected-to-post-quarterly-sales-of-145-90-million.html.

About BIO-TECHNE

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.

Get a free copy of the Zacks research report on BIO-TECHNE (TECH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BIO-TECHNE (NASDAQ:TECH)

Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply