Wall Street brokerages expect BIO-TECHNE Corp (NASDAQ:TECH) to report $163.18 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for BIO-TECHNE’s earnings, with the lowest sales estimate coming in at $161.00 million and the highest estimate coming in at $164.18 million. BIO-TECHNE posted sales of $144.04 million during the same quarter last year, which would indicate a positive year over year growth rate of 13.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that BIO-TECHNE will report full year sales of $163.18 million for the current year, with estimates ranging from $633.00 million to $638.33 million. For the next financial year, analysts forecast that the business will post sales of $692.60 million per share, with estimates ranging from $687.00 million to $702.26 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.10. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The company had revenue of $154.15 million for the quarter, compared to analysts’ expectations of $145.93 million. During the same period in the previous year, the firm earned $0.81 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year.
In other news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bamco Inc. NY raised its holdings in BIO-TECHNE by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after buying an additional 20,286 shares during the period. Jackson Square Partners LLC raised its holdings in BIO-TECHNE by 8.1% during the 4th quarter. Jackson Square Partners LLC now owns 931,400 shares of the biotechnology company’s stock valued at $120,662,000 after buying an additional 69,784 shares during the period. Bank of New York Mellon Corp raised its holdings in BIO-TECHNE by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 501,317 shares of the biotechnology company’s stock valued at $60,603,000 after buying an additional 2,698 shares during the period. Citadel Advisors LLC raised its holdings in BIO-TECHNE by 28.8% during the 4th quarter. Citadel Advisors LLC now owns 416,736 shares of the biotechnology company’s stock valued at $53,988,000 after buying an additional 93,175 shares during the period. Finally, First Trust Advisors LP raised its holdings in BIO-TECHNE by 13.7% during the 4th quarter. First Trust Advisors LP now owns 410,991 shares of the biotechnology company’s stock valued at $53,244,000 after buying an additional 49,470 shares during the period. 98.00% of the stock is currently owned by institutional investors and hedge funds.
BIO-TECHNE (NASDAQ TECH) traded up $2.49 during midday trading on Thursday, reaching $141.99. The company had a trading volume of 166,253 shares, compared to its average volume of 187,164. The company has a current ratio of 3.10, a quick ratio of 2.49 and a debt-to-equity ratio of 0.36. BIO-TECHNE has a one year low of $98.22 and a one year high of $143.64. The stock has a market cap of $5,320.93, a PE ratio of 46.55, a PEG ratio of 2.60 and a beta of 0.78.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.90%. BIO-TECHNE’s dividend payout ratio (DPR) is 41.97%.
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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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