$1.10 EPS Expected for BIO-TECHNE Corp (TECH) This Quarter

Equities research analysts expect BIO-TECHNE Corp (NASDAQ:TECH) to report earnings of $1.10 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for BIO-TECHNE’s earnings, with estimates ranging from $1.04 to $1.17. BIO-TECHNE reported earnings per share of $0.97 during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The company is scheduled to report its next earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that BIO-TECHNE will report full year earnings of $4.11 per share for the current year, with EPS estimates ranging from $3.98 to $4.36. For the next year, analysts anticipate that the business will post earnings of $4.54 per share, with EPS estimates ranging from $4.30 to $4.96. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover BIO-TECHNE.

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

Several research firms recently issued reports on TECH. BidaskClub raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Craig Hallum reissued a “buy” rating and set a $160.00 price target (up from $140.00) on shares of BIO-TECHNE in a report on Wednesday. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Robert W. Baird upped their target price on shares of BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Deutsche Bank set a $145.00 target price on shares of BIO-TECHNE and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $147.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its position in BIO-TECHNE by 13.7% during the fourth quarter. First Trust Advisors LP now owns 410,991 shares of the biotechnology company’s stock worth $53,244,000 after buying an additional 49,470 shares during the period. New Mexico Educational Retirement Board acquired a new position in BIO-TECHNE during the fourth quarter worth about $1,201,000. Swiss National Bank grew its position in BIO-TECHNE by 1.9% during the fourth quarter. Swiss National Bank now owns 63,611 shares of the biotechnology company’s stock worth $8,241,000 after buying an additional 1,200 shares during the period. California Public Employees Retirement System grew its position in BIO-TECHNE by 5.5% during the fourth quarter. California Public Employees Retirement System now owns 75,930 shares of the biotechnology company’s stock worth $9,837,000 after buying an additional 3,937 shares during the period. Finally, Teacher Retirement System of Texas grew its position in BIO-TECHNE by 313.7% during the fourth quarter. Teacher Retirement System of Texas now owns 12,753 shares of the biotechnology company’s stock worth $1,652,000 after buying an additional 9,670 shares during the period. Institutional investors own 96.89% of the company’s stock.

BIO-TECHNE (TECH) traded down $4.49 during midday trading on Friday, reaching $131.96. 202,591 shares of the company traded hands, compared to its average volume of 185,318. The stock has a market capitalization of $5,160.79, a PE ratio of 44.06, a P/E/G ratio of 3.11 and a beta of 0.78. BIO-TECHNE has a 52-week low of $98.22 and a 52-week high of $143.64. The company has a quick ratio of 2.25, a current ratio of 3.10 and a debt-to-equity ratio of 0.36.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.28 annualized dividend and a yield of 0.97%. BIO-TECHNE’s payout ratio is currently 41.97%.

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About BIO-TECHNE

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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