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.
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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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