$222.45 Million in Sales Expected for Bio-Techne Co. (NASDAQ:TECH) This Quarter


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Equities research analysts forecast that Bio-Techne Co. (NASDAQ:TECH) will report sales of $222.45 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Bio-Techne’s earnings, with estimates ranging from $210.80 million to $229.60 million. Bio-Techne posted sales of $194.68 million during the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The company is scheduled to report its next quarterly earnings report on Thursday, April 29th.

On average, analysts expect that Bio-Techne will report full-year sales of $877.22 million for the current year, with estimates ranging from $858.60 million to $892.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $982.02 million, with estimates ranging from $975.25 million to $988.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bio-Techne.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Monday, February 1st. The biotechnology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. The business had revenue of $224.30 million during the quarter, compared to the consensus estimate of $206.50 million. Bio-Techne had a net margin of 32.69% and a return on equity of 12.20%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share.

Several equities research analysts recently weighed in on TECH shares. Robert W. Baird upped their price objective on shares of Bio-Techne from $289.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Benchmark upped their price objective on shares of Bio-Techne from $320.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, January 25th. Stifel Nicolaus raised shares of Bio-Techne from a “hold” rating to a “buy” rating and set a $435.00 price target for the company in a report on Tuesday. Citigroup upped their price target 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. Finally, KeyCorp started coverage on shares of Bio-Techne in a report on Monday, November 9th. They issued a “sector weight” rating and a $340.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $347.27.

In related news, SVP Brenda S. Furlow sold 10,857 shares of the company’s stock in a transaction that occurred on Monday, November 30th. The shares were sold at an average price of $301.94, for a total value of $3,278,162.58. Following the completion of the sale, the senior vice president now owns 16,043 shares in the company, valued at approximately $4,844,023.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles R. Kummeth sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $308.00, for a total transaction of $1,540,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,680 shares of company stock valued at $15,354,157. 3.80% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Bio-Techne by 39.6% in the 4th quarter. JPMorgan Chase & Co. now owns 157,477 shares of the biotechnology company’s stock worth $50,008,000 after buying an additional 44,700 shares in the last quarter. First National Bank of Omaha lifted its position in Bio-Techne by 13.9% in the 4th quarter. First National Bank of Omaha now owns 1,098 shares of the biotechnology company’s stock worth $349,000 after buying an additional 134 shares in the last quarter. Truist Financial Corp lifted its position in Bio-Techne by 6.6% in the 4th quarter. Truist Financial Corp now owns 8,727 shares of the biotechnology company’s stock worth $2,770,000 after buying an additional 542 shares in the last quarter. WMS Partners LLC lifted its position in Bio-Techne by 5.3% in the 4th quarter. WMS Partners LLC now owns 1,546 shares of the biotechnology company’s stock worth $491,000 after buying an additional 78 shares in the last quarter. Finally, Advisor Partners LLC purchased a new stake in Bio-Techne in the 4th quarter worth approximately $238,000. Institutional investors own 93.75% of the company’s stock.

TECH stock traded down $0.14 during trading on Tuesday, hitting $376.86. The company had a trading volume of 214,319 shares, compared to its average volume of 196,872. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 60.30, a P/E/G ratio of 7.23 and a beta of 1.13. The business has a 50 day moving average of $358.94 and a 200 day moving average of $297.05. Bio-Techne has a fifty-two week low of $155.17 and a fifty-two week high of $414.99. 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 26th. Investors of record on Friday, February 12th will be given a $0.32 dividend. The ex-dividend date is Thursday, February 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.34%. Bio-Techne’s dividend payout ratio (DPR) is presently 33.16%.

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 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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