Equities analysts expect BIO-TECHNE Corp (NASDAQ:TECH) to announce $0.97 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for BIO-TECHNE’s earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.93. BIO-TECHNE posted earnings of $0.90 per share during the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The business is expected to announce its next earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that BIO-TECHNE will report full-year earnings of $4.58 per share for the current year, with EPS estimates ranging from $4.32 to $4.89. For the next year, analysts anticipate that the business will report earnings of $5.20 per share, with EPS estimates ranging from $5.00 to $5.38. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.05. BIO-TECHNE had a net margin of 19.50% and a return on equity of 14.64%. The firm had revenue of $180.25 million for the quarter, compared to analyst estimates of $176.24 million.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of BIO-TECHNE from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Deutsche Bank downgraded shares of BIO-TECHNE from a “buy” rating to a “hold” rating and set a $165.00 price objective for the company. in a research report on Wednesday, June 27th. ValuEngine raised shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 11th. Citigroup lifted their price objective on shares of BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. Finally, Robert W. Baird lifted their price objective on shares of BIO-TECHNE from $162.00 to $191.00 and gave the company a “positive” rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $185.57.
Shares of TECH stock opened at $199.81 on Friday. The company has a current ratio of 5.01, a quick ratio of 3.93 and a debt-to-equity ratio of 0.31. BIO-TECHNE has a 1 year low of $119.01 and a 1 year high of $199.99. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 3.33 and a beta of 0.88.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, August 16th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
In other news, Director Charles A. Dinarello sold 5,000 shares of BIO-TECHNE stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $176.94, for a total value of $884,700.00. Following the completion of the transaction, the director now owns 13,212 shares of the company’s stock, valued at approximately $2,337,731.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Higgins sold 10,000 shares of BIO-TECHNE stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $187.92, for a total transaction of $1,879,200.00. Following the completion of the transaction, the director now directly owns 13,012 shares of the company’s stock, valued at approximately $2,445,215.04. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TECH. BlackRock Inc. boosted its holdings in shares of BIO-TECHNE by 2.5% during the 2nd quarter. BlackRock Inc. now owns 3,776,455 shares of the biotechnology company’s stock worth $558,726,000 after buying an additional 91,519 shares during the period. Schroder Investment Management Group boosted its holdings in shares of BIO-TECHNE by 975.1% during the 2nd quarter. Schroder Investment Management Group now owns 2,211,502 shares of the biotechnology company’s stock worth $85,499,000 after buying an additional 2,005,804 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of BIO-TECHNE by 5.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,393,027 shares of the biotechnology company’s stock worth $206,098,000 after buying an additional 76,538 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of BIO-TECHNE by 29.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 598,005 shares of the biotechnology company’s stock worth $88,475,000 after buying an additional 134,771 shares during the period. Finally, Fred Alger Management Inc. boosted its holdings in shares of BIO-TECHNE by 33.7% during the 2nd quarter. Fred Alger Management Inc. now owns 498,960 shares of the biotechnology company’s stock worth $73,821,000 after buying an additional 125,819 shares during the period. 94.72% of the stock is owned by institutional investors.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.
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