Brokerages Expect Bio-Techne Corp (TECH) Will Post Quarterly Sales of $145.90 Million
Equities analysts predict that Bio-Techne Corp (NASDAQ:TECH) will post sales of $145.90 million for the current quarter, according to Zacks. Six analysts have issued estimates for Bio-Techne Corp’s earnings, with the highest sales estimate coming in at $147.50 million and the lowest estimate coming in at $144.93 million. Bio-Techne Corp posted sales of $131.81 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 6th.
On average, analysts expect that Bio-Techne Corp will report full year sales of $145.90 million for the current financial year, with estimates ranging from $615.56 million to $627.10 million. For the next fiscal year, analysts expect that the business will report sales of $667.98 million per share, with estimates ranging from $653.69 million to $673.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Bio-Techne Corp.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. Bio-Techne Corp had a net margin of 12.54% and a return on equity of 14.11%. The firm had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year.
Several research firms recently issued reports on TECH. Zacks Investment Research lowered shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Citigroup Inc. reissued a “buy” rating and issued a $115.00 price target (down previously from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Wells Fargo & Company began coverage on shares of Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating for the company. Finally, Deutsche Bank AG increased their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bio-Techne Corp has a consensus rating of “Buy” and an average price target of $131.25.
In other news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the completion of the sale, the director now owns 914 shares of the company’s stock, valued at $111,261.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert V. Baumgartner sold 5,000 shares of the firm’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 sale, the director now directly owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,259 shares of company stock valued at $804,102. Company insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bio-Techne Corp by 12.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after buying an additional 163 shares in the last quarter. Underhill Investment Management LLC acquired a new stake in shares of Bio-Techne Corp in the second quarter valued at approximately $223,000. Flinton Capital Management LLC increased its holdings in shares of Bio-Techne Corp by 84.8% in the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 896 shares in the last quarter. Turner Investments LLC acquired a new stake in shares of Bio-Techne Corp in the third quarter valued at approximately $242,000. Finally, LS Investment Advisors LLC increased its holdings in shares of Bio-Techne Corp by 22.0% in the second quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock valued at $245,000 after purchasing an additional 377 shares in the last quarter. 98.66% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/brokerages-expect-bio-techne-corp-tech-will-post-quarterly-sales-of-145-90-million/1692736.html.
Bio-Techne Corp (NASDAQ:TECH) opened at $124.70 on Friday. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $132.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. The stock has a market cap of $4,738.47, a PE ratio of 36.52, a P/E/G ratio of 3.16 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, November 9th. Bio-Techne Corp’s payout ratio is 66.32%.
About Bio-Techne Corp
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Bio-Techne Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Techne Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.