Bio-Techne Corp (NASDAQ:TECH) – Investment analysts at William Blair upped their FY2019 earnings per share estimates for shares of Bio-Techne Corp in a report issued on Monday. William Blair analyst A. Murphy now forecasts that the biotechnology company will post earnings per share of $3.99 for the year, up from their previous estimate of $3.98.
Bio-Techne Corp (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The firm had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $150.25 million. During the same period in the previous year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://sportsperspectives.com/2017/08/23/bio-techne-corp-to-post-fy2019-earnings-of-3-99-per-share-william-blair-forecasts-tech.html.
TECH has been the topic of a number of other reports. BidaskClub upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Deutsche Bank AG increased their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Citigroup Inc. reiterated a “buy” rating and issued a $125.00 price target (up from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. Finally, TheStreet upgraded shares of Bio-Techne Corp from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $127.50.
Bio-Techne Corp (TECH) traded down 0.26% during trading on Wednesday, reaching $119.12. 47,788 shares of the company’s stock were exchanged. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $121.94. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 57.83 and a beta of 0.79. The firm’s 50-day moving average price is $116.64 and its 200-day moving average price is $109.80.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.28 annualized dividend and a yield of 1.07%. Bio-Techne Corp’s dividend payout ratio (DPR) is currently 65.98%.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $111.15, for a total transaction of $555,750.00. Following the sale, the director now directly owns 6,973 shares in the company, valued at approximately $775,048.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 10,300 shares of company stock worth $1,147,078 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Israel Discount Bank of New York acquired a new stake in Bio-Techne Corp during the first quarter worth about $105,000. Flinton Capital Management LLC increased its stake 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 worth $107,000 after buying an additional 96 shares during the period. Meadow Creek Investment Management LLC increased its stake 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 worth $148,000 after buying an additional 132 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bio-Techne Corp by 12.6% in 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 during the period. Finally, LS Investment Advisors LLC increased its stake in Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares during the period. Institutional investors own 99.17% of the company’s stock.
Bio-Techne Corp Company Profile
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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