Bio-Techne Co. (NASDAQ:TECH) Expected to Post Earnings of $1.50 Per Share


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Equities analysts predict that Bio-Techne Co. (NASDAQ:TECH) will announce $1.50 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Bio-Techne’s earnings, with the highest EPS estimate coming in at $1.59 and the lowest estimate coming in at $1.42. Bio-Techne reported earnings of $1.39 per share in the same quarter last year, which indicates a positive year over year growth rate of 7.9%. The firm is expected to report its next earnings results before the market opens on Thursday, May 6th.

According to Zacks, analysts expect that Bio-Techne will report full-year earnings of $6.01 per share for the current year, with EPS estimates ranging from $5.86 to $6.15. For the next year, analysts anticipate that the business will report earnings of $6.95 per share, with EPS estimates ranging from $6.87 to $7.18. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Bio-Techne.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Monday, February 1st. The biotechnology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.37 by $0.25. The company had revenue of $224.30 million during the quarter, compared to analyst estimates of $206.50 million. Bio-Techne had a return on equity of 12.20% and a net margin of 32.69%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS.

TECH has been the topic of several recent research reports. Stifel Nicolaus raised Bio-Techne from a “hold” rating to a “buy” rating and set a $435.00 price target on the stock in a report on Monday, March 1st. Craig Hallum raised their price target on Bio-Techne from $352.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Zacks Investment Research downgraded Bio-Techne from a “hold” rating to a “sell” rating in a report on Wednesday. Benchmark raised their price target on Bio-Techne from $320.00 to $410.00 and gave the stock a “buy” rating in a report on Monday, January 25th. Finally, Stephens raised Bio-Techne from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $380.00 to $425.00 in a research note on Monday, March 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Bio-Techne currently has an average rating of “Buy” and a consensus target price of $361.09.

Shares of NASDAQ TECH traded up $8.22 during mid-day trading on Thursday, hitting $405.21. The company had a trading volume of 2,363 shares, compared to its average volume of 200,094. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 64.83, a PEG ratio of 7.23 and a beta of 1.13. Bio-Techne has a 12 month low of $189.33 and a 12 month high of $414.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.14 and a quick ratio of 4.13. The firm’s 50 day simple moving average is $378.34 and its two-hundred day simple moving average is $323.89.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 26th. Stockholders of record on Friday, February 12th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Thursday, February 11th. Bio-Techne’s dividend payout ratio is presently 33.16%.

In other news, CEO Charles R. Kummeth sold 20,000 shares of the business’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $344.00, for a total value of $6,880,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kim Kelderman sold 823 shares of the business’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $388.45, for a total value of $319,694.35. Following the completion of the sale, the insider now directly owns 845 shares in the company, valued at approximately $328,240.25. The disclosure for this sale can be found here. Insiders sold a total of 30,823 shares of company stock worth $10,535,994 in the last three months. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fieldpoint Private Securities LLC acquired a new position in shares of Bio-Techne in the 4th quarter worth $32,000. Archer Investment Corp acquired a new position in shares of Bio-Techne in the 4th quarter worth $38,000. NEXT Financial Group Inc grew its holdings in shares of Bio-Techne by 39.3% in the 4th quarter. NEXT Financial Group Inc now owns 124 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. Newfound Research LLC acquired a new position in shares of Bio-Techne in the 4th quarter worth $41,000. Finally, JJJ Advisors Inc. grew its holdings in shares of Bio-Techne by 1,145.5% in the 4th quarter. JJJ Advisors Inc. now owns 137 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 126 shares during the last quarter. Institutional investors and hedge funds own 93.75% of the company’s stock.

About Bio-Techne

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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