BIO-TECHNE (NASDAQ:TECH) released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10, Bloomberg Earnings reports. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The company had revenue of $154.15 million for the quarter, compared to analyst estimates of $145.93 million. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue was up 16.9% compared to the same quarter last year.
BIO-TECHNE (TECH) opened at $137.00 on Wednesday. The stock has a market capitalization of $5,075.48, a PE ratio of 44.92, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.49 and a current ratio of 3.10. BIO-TECHNE has a 1-year low of $98.22 and a 1-year high of $143.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, February 15th. BIO-TECHNE’s payout ratio is presently 41.97%.
A number of equities research analysts recently commented on TECH shares. Zacks Investment Research upgraded BIO-TECHNE from a “hold” rating to a “buy” rating and set a $158.00 price target on the stock in a research report on Saturday, January 20th. Robert W. Baird reiterated a “buy” rating and issued a $154.00 price objective on shares of BIO-TECHNE in a research report on Thursday, January 18th. Craig Hallum reissued a “buy” rating and issued a $160.00 price target (up previously from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. BidaskClub raised BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Finally, Leerink Swann reissued a “buy” rating on shares of BIO-TECHNE in a research note on Tuesday, December 5th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $145.00.
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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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