Bio-Techne (NASDAQ:TECH) Announces Quarterly Earnings Results

Bio-Techne (NASDAQ:TECH) announced its quarterly earnings data on Wednesday. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03, Briefing.com reports. The business had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share.

Bio-Techne Stock Up 1.1 %

TECH traded up $0.81 during midday trading on Thursday, hitting $74.27. 337,476 shares of the company’s stock traded hands, compared to its average volume of 1,089,185. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The company has a market cap of $11.67 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 7.87 and a beta of 1.23. Bio-Techne has a one year low of $51.79 and a one year high of $89.91. The stock’s fifty day simple moving average is $69.57 and its 200-day simple moving average is $68.44.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, May 10th. Bio-Techne’s dividend payout ratio (DPR) is currently 23.19%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TECH. Stephens reduced their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Benchmark reaffirmed a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Thursday. Scotiabank initiated coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Royal Bank of Canada cut their target price on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.50.

Insider Activity at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the sale, the director now owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.45% of the stock is owned by company insiders.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.