Wall Street brokerages expect BIO-TECHNE Corp (NASDAQ:TECH) to announce earnings of $0.97 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for BIO-TECHNE’s earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $1.08. BIO-TECHNE reported earnings per share of $0.90 during the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The company is expected to announce its next earnings results before the market opens on Tuesday, October 30th.
According to Zacks, analysts expect that BIO-TECHNE will report full year earnings of $4.49 per share for the current fiscal year, with EPS estimates ranging from $4.35 to $4.85. For the next year, analysts anticipate that the business will report earnings of $5.11 per share, with EPS estimates ranging from $4.95 to $5.38. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.05. The business had revenue of $180.25 million during the quarter, compared to analyst estimates of $176.24 million. BIO-TECHNE had a net margin of 19.50% and a return on equity of 14.64%.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Argus boosted their price target on shares of BIO-TECHNE from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. BidaskClub lowered shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. ValuEngine upgraded shares of BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Finally, Goldman Sachs Group assumed coverage on shares of BIO-TECHNE in a research note on Wednesday. They set a “neutral” rating and a $190.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $191.75.
In other news, Director John L. Higgins sold 10,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $187.92, for a total value of $1,879,200.00. Following the completion of the sale, the director now owns 13,012 shares in the company, valued at approximately $2,445,215.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles A. Dinarello sold 5,000 shares of the company’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 completion of the sale, the director now owns 13,212 shares of the company’s stock, valued at approximately $2,337,731.28. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TECH. Wells Fargo & Company MN grew its stake in shares of BIO-TECHNE by 3.7% in the 1st quarter. Wells Fargo & Company MN now owns 53,441 shares of the biotechnology company’s stock worth $8,071,000 after acquiring an additional 1,882 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of BIO-TECHNE by 59.1% in the 1st quarter. JPMorgan Chase & Co. now owns 68,545 shares of the biotechnology company’s stock worth $10,353,000 after acquiring an additional 25,451 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of BIO-TECHNE by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 210,580 shares of the biotechnology company’s stock worth $31,806,000 after acquiring an additional 7,392 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of BIO-TECHNE in the 1st quarter worth $209,000. Finally, Stifel Financial Corp grew its stake in shares of BIO-TECHNE by 4.8% in the 1st quarter. Stifel Financial Corp now owns 9,877 shares of the biotechnology company’s stock worth $1,491,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.
TECH stock traded up $0.14 during midday trading on Thursday, reaching $183.25. 286,300 shares of the company’s stock traded hands, compared to its average volume of 196,745. The firm has a market capitalization of $7.71 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 3.46 and a beta of 0.87. The company has a current ratio of 5.01, a quick ratio of 3.93 and a debt-to-equity ratio of 0.31. BIO-TECHNE has a 52 week low of $121.26 and a 52 week high of $206.04.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
Further Reading: Buyback
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BIO-TECHNE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIO-TECHNE and related companies with MarketBeat.com's FREE daily email newsletter.