Wall Street analysts expect that BIO-TECHNE Corp (NASDAQ:TECH) will report sales of $191.63 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for BIO-TECHNE’s earnings, with the highest sales estimate coming in at $194.34 million and the lowest estimate coming in at $190.40 million. BIO-TECHNE reported sales of $174.51 million in the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that BIO-TECHNE will report full year sales of $790.57 million for the current year, with estimates ranging from $784.18 million to $797.31 million. For the next financial year, analysts expect that the business will post sales of $883.95 million, with estimates ranging from $872.22 million to $899.19 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.14. BIO-TECHNE had a net margin of 12.68% and a return on equity of 13.36%. The business had revenue of $183.24 million during the quarter, compared to analysts’ expectations of $179.38 million. During the same period last year, the company posted $0.98 EPS. The company’s revenue was up 12.4% on a year-over-year basis.
Shares of TECH traded up $4.92 during mid-day trading on Friday, reaching $216.34. 137,000 shares of the company’s stock were exchanged, compared to its average volume of 167,532. The company has a quick ratio of 3.41, a current ratio of 4.44 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $203.63 and a two-hundred day simple moving average of $202.41. BIO-TECHNE has a 52-week low of $132.75 and a 52-week high of $217.15. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 56.93, a PEG ratio of 4.53 and a beta of 1.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.28 annualized dividend and a yield of 0.59%. BIO-TECHNE’s payout ratio is currently 33.68%.
In other news, CEO Charles R. Kummeth bought 200 shares of the stock in a transaction on Monday, September 9th. The stock was purchased at an average cost of $185.00 per share, with a total value of $37,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.20% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in TECH. Candriam Luxembourg S.C.A. grew its stake in BIO-TECHNE by 20.2% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 129,857 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 21,840 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in BIO-TECHNE in the 2nd quarter worth approximately $27,000. Advisory Services Network LLC grew its stake in BIO-TECHNE by 183.3% in the 2nd quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 99 shares during the period. Quest Capital Management Inc. ADV acquired a new position in shares of BIO-TECHNE in the 3rd quarter valued at $54,000. Finally, HM Payson & Co. acquired a new position in shares of BIO-TECHNE in the 2nd quarter valued at $63,000. 90.64% of the stock is owned by hedge funds and other institutional investors.
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.
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