$145.90 Million in Sales Expected for BIO-TECHNE Corp (TECH) This Quarter
Equities analysts expect that BIO-TECHNE Corp (NASDAQ:TECH) will report sales of $145.90 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for BIO-TECHNE’s earnings, with the lowest sales estimate coming in at $144.93 million and the highest estimate coming in at $147.50 million. BIO-TECHNE reported sales of $131.81 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The firm is scheduled to report its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that BIO-TECHNE will report full year sales of $145.90 million for the current year, with estimates ranging from $615.56 million to $627.10 million. For the next fiscal year, analysts expect that the firm will report sales of $668.45 million per share, with estimates ranging from $653.69 million to $673.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. BIO-TECHNE had a return on equity of 14.11% and a net margin of 12.54%. The company had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. During the same quarter in the previous year, the business earned $0.84 EPS. BIO-TECHNE’s revenue was up 10.7% compared to the same quarter last year.
Shares of BIO-TECHNE (NASDAQ:TECH) traded down $0.65 during trading hours on Friday, reaching $140.02. The company had a trading volume of 187,600 shares, compared to its average volume of 176,817. BIO-TECHNE has a 52 week low of $95.68 and a 52 week high of $141.83. The stock has a market cap of $5,269.81, a P/E ratio of 72.55, a PEG ratio of 3.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.25 and a current ratio of 2.87.
In other BIO-TECHNE news, Director Robert V. Baumgartner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total transaction of $650,900.00. Following the transaction, the director now owns 12,712 shares in the company, valued at approximately $1,654,848.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in shares of BIO-TECHNE by 51.1% in the 4th quarter. State of Alaska Department of Revenue now owns 9,399 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 3,180 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of BIO-TECHNE by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 206,510 shares of the biotechnology company’s stock worth $26,754,000 after buying an additional 9,326 shares during the last quarter. Bank of Montreal Can grew its stake in shares of BIO-TECHNE by 83.6% in the 4th quarter. Bank of Montreal Can now owns 16,412 shares of the biotechnology company’s stock worth $2,126,000 after buying an additional 7,473 shares during the last quarter. Gofen & Glossberg LLC IL purchased a new stake in shares of BIO-TECHNE in the 4th quarter worth approximately $205,000. Finally, Confluence Investment Management LLC grew its stake in shares of BIO-TECHNE by 2.3% in the 4th quarter. Confluence Investment Management LLC now owns 31,875 shares of the biotechnology company’s stock worth $4,130,000 after buying an additional 727 shares during the last quarter. Institutional investors own 96.96% of the company’s stock.
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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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