Analysts predict that BIO-TECHNE Corp (NASDAQ:TECH) will post $163.18 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for BIO-TECHNE’s earnings. The lowest sales estimate is $161.00 million and the highest is $164.18 million. BIO-TECHNE posted sales of $144.04 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The business is expected to report its next earnings results on Tuesday, May 1st.
On average, analysts expect that BIO-TECHNE will report full-year sales of $163.18 million for the current fiscal year, with estimates ranging from $633.00 million to $638.33 million. For the next year, analysts forecast that the business will report sales of $692.60 million per share, with estimates ranging from $687.00 million to $702.26 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The business had revenue of $154.15 million during the quarter, compared to analysts’ expectations of $145.93 million. During the same period in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 16.9% on a year-over-year basis.
A number of brokerages have recently weighed in on TECH. Zacks Investment Research raised BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Saturday, February 10th. Craig Hallum reissued a “buy” rating and set a $160.00 target price (up from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. Robert W. Baird boosted their target price on BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $145.00.
Shares of BIO-TECHNE (NASDAQ TECH) opened at $139.55 on Thursday. BIO-TECHNE has a one year low of $98.22 and a one year high of $143.64. The company has a quick ratio of 2.49, a current ratio of 3.10 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5,230.00, a price-to-earnings ratio of 63.43, a PEG ratio of 2.58 and a beta of 0.78.
The business also recently announced 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. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.28 annualized dividend and a yield of 0.92%. BIO-TECHNE’s payout ratio is 58.18%.
In related news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total transaction of $680,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC purchased a new stake in BIO-TECHNE during the 4th quarter worth about $45,083,000. Renaissance Technologies LLC lifted its holdings in BIO-TECHNE by 45.5% during the 4th quarter. Renaissance Technologies LLC now owns 356,000 shares of the biotechnology company’s stock worth $46,120,000 after buying an additional 111,300 shares during the last quarter. Citadel Advisors LLC lifted its holdings in BIO-TECHNE by 28.8% during the 4th quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock worth $53,988,000 after buying an additional 93,175 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in BIO-TECHNE during the 4th quarter worth about $9,766,000. Finally, Jackson Square Partners LLC lifted its holdings in BIO-TECHNE by 8.1% during the 4th quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock worth $120,662,000 after buying an additional 69,784 shares during the last quarter. 98.00% of the stock is owned by hedge funds and other institutional investors.
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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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