BIO-TECHNE (TECH) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

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.

Earnings History for BIO-TECHNE (NASDAQ:TECH)

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