Bio-Techne (NASDAQ:TECH) Announces Earnings Results, Beats Expectations By $0.03 EPS

Bio-Techne (NASDAQ:TECH) released its quarterly earnings data on Wednesday. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03, Briefing.com reports. Bio-Techne had a return on equity of 13.60% and a net margin of 17.59%. The firm had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $292.36 million. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis.

Bio-Techne Price Performance

Shares of NASDAQ TECH traded up $1.69 during trading on Friday, reaching $77.29. The company had a trading volume of 1,509,857 shares, compared to its average volume of 1,225,112. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $89.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.03 and a current ratio of 4.08. The business’s 50 day moving average price is $69.76 and its 200-day moving average price is $68.55. The stock has a market cap of $12.15 billion, a PE ratio of 61.34, a PEG ratio of 9.41 and a beta of 1.23.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.32 annualized dividend and a yield of 0.41%. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TECH shares. Scotiabank started coverage on Bio-Techne in a report on Thursday, February 8th. They set a “sector outperform” rating and a $80.00 target price on the stock. Robert W. Baird raised their target price on Bio-Techne from $73.00 to $81.00 and gave the company an “outperform” rating in a report on Thursday. Stephens cut their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Royal Bank of Canada cut their target price on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a report on Friday, February 2nd. Finally, Stifel Nicolaus lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.50.

Insider Activity at Bio-Techne

In other news, Director Roeland Nusse sold 10,400 shares of Bio-Techne stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total value of $800,592.00. Following the completion of the sale, the director now directly owns 43,097 shares of the company’s stock, valued at approximately $3,317,607.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.45% of the stock is currently owned by company insiders.

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 in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.