Brokerages Expect Bio-Techne Co. (NASDAQ:TECH) to Announce $1.50 Earnings Per Share


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Wall Street brokerages expect that Bio-Techne Co. (NASDAQ:TECH) will report earnings of $1.50 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Bio-Techne’s earnings. The highest EPS estimate is $1.59 and the lowest is $1.42. Bio-Techne posted earnings per share of $1.39 during the same quarter last year, which would suggest a positive year over year growth rate of 7.9%. The company is expected to issue its next quarterly earnings report before the market opens on Thursday, May 6th.

According to Zacks, analysts expect that Bio-Techne will report full-year earnings of $6.01 per share for the current fiscal year, with EPS estimates ranging from $5.86 to $6.15. For the next year, analysts expect that the firm will post earnings of $6.95 per share, with EPS estimates ranging from $6.87 to $7.18. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Bio-Techne.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Monday, February 1st. The biotechnology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The company had revenue of $224.30 million for the quarter, compared to analysts’ expectations of $206.50 million. Bio-Techne had a net margin of 32.69% and a return on equity of 12.20%. Bio-Techne’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 EPS.

A number of research firms recently commented on TECH. Zacks Investment Research cut shares of Bio-Techne from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus raised shares of Bio-Techne from a “hold” rating to a “buy” rating and set a $435.00 target price on the stock in a report on Monday, March 1st. Stephens raised shares of Bio-Techne from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $380.00 to $425.00 in a report on Monday, March 15th. Craig Hallum boosted their target price on shares of Bio-Techne from $352.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. Finally, Citigroup boosted their target price on shares of Bio-Techne from $310.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $361.09.

Shares of NASDAQ:TECH traded up $8.22 during mid-day trading on Thursday, reaching $405.21. The company had a trading volume of 2,363 shares, compared to its average volume of 200,094. The company has a current ratio of 5.14, a quick ratio of 4.13 and a debt-to-equity ratio of 0.22. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of 64.83, a PEG ratio of 7.23 and a beta of 1.13. The company’s 50-day moving average price is $378.34 and its 200-day moving average price is $323.89. Bio-Techne has a one year low of $189.33 and a one year high of $414.99.

The company also recently declared a quarterly dividend, which was paid on Friday, February 26th. Stockholders of record on Friday, February 12th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.32%. Bio-Techne’s dividend payout ratio (DPR) is currently 33.16%.

In related news, insider Kim Kelderman sold 823 shares of the company’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $388.45, for a total value of $319,694.35. Following the completion of the transaction, the insider now directly owns 845 shares in the company, valued at $328,240.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles R. Kummeth sold 20,000 shares of the company’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $344.00, for a total transaction of $6,880,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,823 shares of company stock valued at $10,535,994 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC purchased a new position in Bio-Techne in the fourth quarter worth $32,000. Archer Investment Corp bought a new stake in Bio-Techne in the fourth quarter worth $38,000. NEXT Financial Group Inc lifted its stake in Bio-Techne by 39.3% in the fourth quarter. NEXT Financial Group Inc now owns 124 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. Newfound Research LLC bought a new stake in Bio-Techne in the fourth quarter worth $41,000. Finally, JJJ Advisors Inc. lifted its stake in Bio-Techne by 1,145.5% in the fourth quarter. JJJ Advisors Inc. now owns 137 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates in two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment offers proteins and reagent solutions, including cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents, and T-Cell activation technologies.

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