Wall Street analysts expect that BIO-TECHNE Corp (NASDAQ:TECH) will report $162.15 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for BIO-TECHNE’s earnings, with estimates ranging from $161.50 million to $162.60 million. BIO-TECHNE posted sales of $144.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.1%. The company is scheduled to announce its next earnings report on Tuesday, October 30th.
On average, analysts expect that BIO-TECHNE will report full-year sales of $719.85 million for the current year, with estimates ranging from $709.02 million to $732.50 million. For the next year, analysts forecast that the business will post sales of $799.02 million per share, with estimates ranging from $785.81 million to $811.18 million. Zacks’ sales calculations are an average based on a survey of analysts that cover BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.05. The firm had revenue of $180.25 million during the quarter, compared to analysts’ expectations of $176.24 million. BIO-TECHNE had a return on equity of 14.64% and a net margin of 19.50%.
Several equities analysts have weighed in on the company. ValuEngine raised BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Zacks Investment Research raised BIO-TECHNE from a “strong sell” rating to a “hold” rating in a report on Saturday, August 25th. Citigroup lifted their price objective on BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Craig Hallum lifted their price objective on BIO-TECHNE from $160.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, Robert W. Baird lifted their price objective on BIO-TECHNE from $162.00 to $191.00 and gave the company a “positive” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. BIO-TECHNE currently has an average rating of “Buy” and a consensus target price of $185.57.
NASDAQ TECH traded up $0.66 during midday trading on Friday, hitting $198.01. The company had a trading volume of 5,334 shares, compared to its average volume of 187,245. The stock has a market capitalization of $7.54 billion, a PE ratio of 48.18, a P/E/G ratio of 3.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.01 and a quick ratio of 3.93. BIO-TECHNE has a twelve month low of $119.01 and a twelve month high of $201.90.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.28 annualized dividend and a dividend yield of 0.65%. BIO-TECHNE’s payout ratio is 31.45%.
In related news, Director Charles A. Dinarello sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $176.94, for a total transaction of $884,700.00. Following the sale, the director now owns 13,212 shares in the company, valued at approximately $2,337,731.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Higgins sold 10,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $187.92, for a total value of $1,879,200.00. Following the sale, the director now owns 13,012 shares in the company, valued at approximately $2,445,215.04. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in BIO-TECHNE during the 2nd quarter worth approximately $110,000. Bruderman Asset Management LLC bought a new stake in BIO-TECHNE during the 2nd quarter worth approximately $113,000. Fort L.P. bought a new stake in BIO-TECHNE during the 2nd quarter worth approximately $115,000. Contravisory Investment Management Inc. bought a new stake in BIO-TECHNE during the 2nd quarter worth approximately $136,000. Finally, We Are One Seven LLC increased its holdings in BIO-TECHNE by 241.0% during the 1st quarter. We Are One Seven LLC now owns 924 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates through three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers native and recombinant proteins, monoclonal and polyclonal antibodies, immunoassays, biologically active chemical compounds, and in situ genomic hybridization assays for the research and clinical diagnostics markets.
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