BIO-TECHNE Corp to Post Q3 2018 Earnings of $1.09 Per Share, Leerink Swann Forecasts (TECH)
BIO-TECHNE Corp (NASDAQ:TECH) – Leerink Swann upped their Q3 2018 earnings estimates for BIO-TECHNE in a research report issued to clients and investors on Tuesday. Leerink Swann analyst P. Souda now expects that the biotechnology company will post earnings of $1.09 per share for the quarter, up from their prior estimate of $1.01. Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for BIO-TECHNE’s Q4 2018 earnings at $1.21 EPS, Q2 2019 earnings at $1.11 EPS, Q3 2019 earnings at $1.24 EPS and Q4 2019 earnings at $1.33 EPS.
Several other brokerages have also issued reports on TECH. Zacks Investment Research upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $158.00 price objective on the stock in a report on Saturday, January 20th. Citigroup restated a “buy” rating and issued a $115.00 price objective (down from $125.00) on shares of BIO-TECHNE in a report on Tuesday, October 24th. Deutsche Bank set a $145.00 price objective on shares of BIO-TECHNE and gave the company a “buy” rating in a report on Tuesday, October 31st. Robert W. Baird restated a “buy” rating and issued a $154.00 price objective on shares of BIO-TECHNE in a report on Thursday, January 18th. Finally, Craig Hallum restated a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of BIO-TECHNE in a report on Wednesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $147.00.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The company had revenue of $154.15 million during the quarter, compared to analyst estimates of $145.93 million. During the same period last year, the firm posted $0.81 EPS. BIO-TECHNE’s revenue for the quarter was up 16.9% compared to the same quarter last year.
A number of large investors have recently modified their holdings of TECH. Castleark Management LLC acquired a new stake in shares of BIO-TECHNE during the second quarter valued at $3,504,000. Bamco Inc. NY raised its holdings in shares of BIO-TECHNE by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after buying an additional 20,286 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of BIO-TECHNE by 51.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock valued at $38,455,000 after buying an additional 111,629 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of BIO-TECHNE during the 3rd quarter valued at about $390,000. Finally, Magnetar Financial LLC raised its holdings in shares of BIO-TECHNE by 78.0% during the 3rd quarter. Magnetar Financial LLC now owns 10,976 shares of the biotechnology company’s stock valued at $1,327,000 after buying an additional 4,811 shares during the period. Institutional investors own 96.89% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.28 dividend on an annualized basis and a yield of 0.97%. BIO-TECHNE’s dividend payout ratio (DPR) is presently 41.97%.
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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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