Zacks: Brokerages Anticipate BIO-TECHNE Corp (TECH) to Post $1.15 EPS
Brokerages expect BIO-TECHNE Corp (NASDAQ:TECH) to announce earnings of $1.15 per share for the current fiscal quarter, according to Zacks. Six analysts have made estimates for BIO-TECHNE’s earnings, with estimates ranging from $1.05 to $1.21. BIO-TECHNE reported earnings per share of $0.97 in the same quarter last year, which would indicate a positive year over year growth rate of 18.6%. The business is expected to report its next quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that BIO-TECHNE will report full year earnings of $4.33 per share for the current financial year, with EPS estimates ranging from $4.07 to $4.51. For the next fiscal year, analysts expect that the business will post earnings of $4.91 per share, with EPS estimates ranging from $4.52 to $5.15. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.10. The firm had revenue of $154.15 million for the quarter, compared to analyst estimates of $145.93 million. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share.
BIO-TECHNE (TECH) traded up $1.64 during trading hours on Friday, hitting $148.18. The company had a trading volume of 324,942 shares, compared to its average volume of 187,524. The company has a current ratio of 3.10, a quick ratio of 2.49 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5,501.93, a P/E ratio of 48.58, a P/E/G ratio of 2.81 and a beta of 0.75. BIO-TECHNE has a twelve month low of $98.22 and a twelve month high of $148.87.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. BIO-TECHNE’s payout ratio is currently 41.97%.
In other BIO-TECHNE news, Director Charles A. Dinarello sold 5,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total transaction of $680,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new position in shares of BIO-TECHNE during the 4th quarter worth about $445,000. APCM Wealth Management for Individuals bought a new position in shares of BIO-TECHNE during the 4th quarter worth about $259,000. MetLife Investment Advisors LLC bought a new position in shares of BIO-TECHNE during the 4th quarter worth about $3,071,000. Vident Investment Advisory LLC boosted its position in shares of BIO-TECHNE by 78.4% during the 4th quarter. Vident Investment Advisory LLC now owns 7,235 shares of the biotechnology company’s stock worth $937,000 after purchasing an additional 3,180 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of BIO-TECHNE by 17.5% during the 4th quarter. Jane Street Group LLC now owns 3,016 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 449 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors.
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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