Analysts Anticipate BIO-TECHNE Corp (TECH) Will Post Earnings of $1.15 Per Share

Wall Street analysts expect that BIO-TECHNE Corp (NASDAQ:TECH) will announce earnings per share (EPS) of $1.15 for the current quarter, according to Zacks. Six analysts have issued estimates for BIO-TECHNE’s earnings. The highest EPS estimate is $1.21 and the lowest is $1.05. BIO-TECHNE posted earnings of $0.97 per share during the same quarter last year, which would suggest a positive year over year growth rate of 18.6%. The company is expected to announce 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 year, with EPS estimates ranging from $4.07 to $4.51. For the next financial year, analysts expect that the company 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 sell-side research analysts that cover BIO-TECHNE.

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BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. The company had revenue of $154.15 million during the quarter, compared to analysts’ expectations of $145.93 million. BIO-TECHNE had a return on equity of 14.39% and a net margin of 19.17%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share.

Several brokerages recently issued reports on TECH. BidaskClub upgraded BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Friday. Deutsche Bank set a $163.00 price target on BIO-TECHNE and gave the company a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Saturday, February 10th. Craig Hallum reiterated a “buy” rating and issued a $160.00 price target (up from $140.00) on shares of BIO-TECHNE in a research note on Wednesday, February 7th. Finally, Robert W. Baird boosted their price target on BIO-TECHNE from $154.00 to $157.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $148.60.

In other BIO-TECHNE news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $136.06, for a total transaction of $680,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECH. Nationwide Fund Advisors lifted its stake in BIO-TECHNE by 2.0% during the third quarter. Nationwide Fund Advisors now owns 233,752 shares of the biotechnology company’s stock worth $28,258,000 after purchasing an additional 4,693 shares during the last quarter. Aperio Group LLC lifted its stake in BIO-TECHNE by 8.4% during the third quarter. Aperio Group LLC now owns 30,077 shares of the biotechnology company’s stock worth $3,636,000 after purchasing an additional 2,319 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in BIO-TECHNE during the third quarter worth $1,018,000. State of Tennessee Treasury Department lifted its stake in BIO-TECHNE by 133.3% during the third quarter. State of Tennessee Treasury Department now owns 70,000 shares of the biotechnology company’s stock worth $8,462,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in BIO-TECHNE by 1.7% during the third quarter. Principal Financial Group Inc. now owns 235,559 shares of the biotechnology company’s stock worth $28,476,000 after purchasing an additional 3,879 shares during the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

Shares of BIO-TECHNE (TECH) traded up $1.64 during mid-day trading 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 company has a market capitalization of $5,501.93, a PE ratio of 48.58, a P/E/G ratio of 2.81 and a beta of 0.75. BIO-TECHNE has a fifty-two week low of $98.22 and a fifty-two week high of $148.87.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Thursday, February 15th. BIO-TECHNE’s payout ratio is presently 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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Earnings History and Estimates for BIO-TECHNE (NASDAQ:TECH)

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