Brokerages forecast that BIO-TECHNE Corp (NASDAQ:TECH) will report $197.66 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for BIO-TECHNE’s earnings, with the lowest sales estimate coming in at $191.99 million and the highest estimate coming in at $205.00 million. BIO-TECHNE posted sales of $180.25 million in the same quarter last year, which indicates a positive year over year growth rate of 9.7%. The company is expected to announce its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that BIO-TECHNE will report full-year sales of $719.33 million for the current fiscal year, with estimates ranging from $712.19 million to $727.30 million. For the next fiscal year, analysts anticipate that the firm will report sales of $798.01 million, with estimates ranging from $789.69 million to $805.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, April 30th. The biotechnology company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.94 by $0.27. The business had revenue of $184.86 million for the quarter, compared to analysts’ expectations of $183.92 million. BIO-TECHNE had a net margin of 17.15% and a return on equity of 13.53%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS.
In related news, CFO James Hippel sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $203.08, for a total transaction of $7,107,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Norman David Eansor sold 3,117 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $215.00, for a total transaction of $670,155.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,517 shares of company stock worth $9,876,305. Insiders own 3.80% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in BIO-TECHNE by 2.3% during the 4th quarter. BlackRock Inc. now owns 3,855,948 shares of the biotechnology company’s stock valued at $558,034,000 after purchasing an additional 85,590 shares in the last quarter. Vanguard Group Inc increased its position in shares of BIO-TECHNE by 2.4% during the third quarter. Vanguard Group Inc now owns 3,361,425 shares of the biotechnology company’s stock valued at $686,101,000 after acquiring an additional 77,626 shares during the last quarter. Mairs & Power INC increased its position in shares of BIO-TECHNE by 1.7% during the fourth quarter. Mairs & Power INC now owns 1,190,362 shares of the biotechnology company’s stock valued at $172,269,000 after acquiring an additional 19,487 shares during the last quarter. Jackson Square Partners LLC increased its position in shares of BIO-TECHNE by 3.9% during the first quarter. Jackson Square Partners LLC now owns 882,634 shares of the biotechnology company’s stock valued at $175,246,000 after acquiring an additional 33,357 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of BIO-TECHNE by 18.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 803,633 shares of the biotechnology company’s stock valued at $116,303,000 after acquiring an additional 125,665 shares during the last quarter. Institutional investors own 92.76% of the company’s stock.
TECH stock traded down $2.90 during mid-day trading on Friday, hitting $208.34. The company had a trading volume of 75,979 shares, compared to its average volume of 110,435. The stock has a market cap of $7.89 billion, a P/E ratio of 51.19, a PEG ratio of 4.45 and a beta of 1.20. BIO-TECHNE has a 12-month low of $132.75 and a 12-month high of $216.47. The company has a quick ratio of 3.36, a current ratio of 4.32 and a debt-to-equity ratio of 0.44.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.32 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.61%. BIO-TECHNE’s dividend payout ratio (DPR) is presently 31.45%.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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