Analysts forecast that Bio-Techne Corp (NASDAQ:TECH) will report $0.90 earnings per share for the current quarter, Zacks reports. Six analysts have made estimates for Bio-Techne Corp’s earnings, with the highest EPS estimate coming in at $0.94 and the lowest estimate coming in at $0.86. Bio-Techne Corp reported earnings per share of $0.87 during the same quarter last year, which suggests a positive year-over-year growth rate of 3.4%. The firm is scheduled to report its next quarterly earnings results on Wednesday, August 16th.
On average, analysts expect that Bio-Techne Corp will report full year earnings of $3.34 per share for the current financial year, with EPS estimates ranging from $3.31 to $3.39. For the next financial year, analysts forecast that the firm will post earnings of $3.64 per share, with EPS estimates ranging from $3.54 to $3.76. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Bio-Techne Corp.
Bio-Techne Corp (NASDAQ:TECH) last issued its earnings results on Tuesday, May 2nd. The biotechnology company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.04. The firm had revenue of $144.04 million during the quarter, compared to analysts’ expectations of $142.83 million. Bio-Techne Corp had a net margin of 12.86% and a return on equity of 13.80%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share.
Several analysts have issued reports on the stock. BidaskClub lowered shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. TheStreet upgraded shares of Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Citigroup Inc. reiterated a “buy” rating and issued a $125.00 price objective (up from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $122.00 price objective (up from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $122.60.
Shares of Bio-Techne Corp (NASDAQ:TECH) traded down 0.03% during mid-day trading on Tuesday, reaching $112.89. 178,086 shares of the company were exchanged. The stock has a market capitalization of $4.21 billion, a P/E ratio of 60.73 and a beta of 0.83. The firm has a 50-day moving average price of $111.42 and a 200 day moving average price of $105.42. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $117.42.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 19th were issued a $0.32 dividend. The ex-dividend date was Wednesday, May 17th. This represents a $1.28 annualized dividend and a dividend yield of 1.13%. Bio-Techne Corp’s dividend payout ratio is currently 68.82%.
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In other Bio-Techne Corp news, Director Charles A. Dinarello sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $111.37, for a total value of $556,850.00. Following the transaction, the director now directly owns 12,473 shares in the company, valued at $1,389,118.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 10,300 shares of company stock worth $1,145,136. Corporate insiders own 2.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Israel Discount Bank of New York bought a new position in Bio-Techne Corp during the first quarter valued at approximately $105,000. Flinton Capital Management LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 96 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Bio-Techne Corp by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,092 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 78 shares in the last quarter. Israel Discount Bank of New York GFN bought a new position in Bio-Techne Corp during the fourth quarter valued at approximately $127,000. Finally, Meadow Creek Investment Management LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock valued at $148,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 96.91% of the company’s stock.
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.
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