Bio-Techne (NASDAQ:TECH) Posts Quarterly Earnings Results

Bio-Techne (NASDAQ:TECH) posted its earnings results on Wednesday. The biotechnology company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03, Briefing.com reports. The business had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS.

Bio-Techne Price Performance

NASDAQ TECH traded up $1.69 during mid-day trading on Friday, hitting $77.29. The stock had a trading volume of 1,509,857 shares, compared to its average volume of 1,225,112. Bio-Techne has a 52-week low of $51.79 and a 52-week high of $89.91. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 61.34, a P/E/G ratio of 9.41 and a beta of 1.23. The company has a 50 day simple moving average of $69.76 and a 200 day simple moving average of $68.55. The company has a quick ratio of 3.03, a current ratio of 4.08 and a debt-to-equity ratio of 0.19.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, May 10th. Bio-Techne’s dividend payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Benchmark restated a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Thursday. Stephens decreased their target price on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Royal Bank of Canada reduced their price objective on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. Finally, Scotiabank assumed coverage on Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.50.

Insider Transactions at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the sale, the director now owns 43,097 shares in the company, valued at approximately $3,317,607.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.45% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.