Bio-Techne (NASDAQ:TECH) Posts Earnings Results, Beats Estimates By $0.03 EPS

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

Bio-Techne Trading Up 0.7 %

NASDAQ:TECH traded up $0.52 on Thursday, reaching $73.98. The stock had a trading volume of 250,303 shares, compared to its average volume of 1,087,834. Bio-Techne has a 12-month low of $51.79 and a 12-month high of $89.91. The firm’s fifty day moving average is $69.57 and its two-hundred day moving average is $68.44. 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 $11.63 billion, a price-to-earnings ratio of 53.53, a P/E/G ratio of 7.87 and a beta of 1.23.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 13th will be issued 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 (DPR) is 23.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Scotiabank assumed coverage on shares of Bio-Techne in a research report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus lowered shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Insider Activity

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

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.