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

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

Bio-Techne Price Performance

NASDAQ TECH traded up $1.04 during trading on Thursday, reaching $74.50. The company’s stock had a trading volume of 285,885 shares, compared to its average volume of 1,088,623. The stock has a market capitalization of $11.71 billion, a PE ratio of 53.53, a P/E/G ratio of 7.87 and a beta of 1.23. 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 firm has a fifty day moving average of $69.57 and a 200 day moving average of $68.44. Bio-Techne has a one year low of $51.79 and a one year high of $89.91.

Bio-Techne Dividend Announcement

The firm 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 $0.08 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne’s dividend payout ratio is currently 23.19%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Scotiabank assumed coverage on Bio-Techne in a research note on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 price target on the stock. Robert W. Baird boosted their price objective on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday. Stephens decreased their price target on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a report on Thursday. Finally, Stifel Nicolaus downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.50.

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.