Bio-Techne (NASDAQ:TECH) Announces Earnings Results

Bio-Techne (NASDAQ:TECH) issued its quarterly earnings data on Friday. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44, FiscalAI reports. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. The business had revenue of $299.71 million during the quarter, compared to the consensus estimate of $292.60 million.

Bio-Techne Price Performance

Bio-Techne stock traded up $0.12 during mid-day trading on Friday, hitting $72.78. 2,307,614 shares of the company were exchanged, compared to its average volume of 3,295,218. The company has a market capitalization of $11.43 billion, a PE ratio of 63.29, a price-to-earnings-growth ratio of 5.28 and a beta of 1.29. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $72.48 and a 200 day moving average of $63.37. Bio-Techne has a 1-year low of $43.19 and a 1-year high of $72.83.

Bio-Techne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Friday, November 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. This is a negative change from Bio-Techne’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, November 13th. Bio-Techne’s dividend payout ratio (DPR) is currently 27.83%.

Analyst Ratings Changes

TECH has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada cut shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $62.00 to $73.00 in a report on Thursday, July 9th. Benchmark reissued a “hold” rating on shares of Bio-Techne in a research report on Wednesday, August 19th. Zacks Research upgraded shares of Bio-Techne from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Finally, Argus cut shares of Bio-Techne from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.92.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.