Bio-Techne (NASDAQ:TECH) Announces Quarterly Earnings Results

Bio-Techne (NASDAQ:TECH) issued its quarterly earnings results on Wednesday. The biotechnology company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49, Briefing.com reports. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the previous year, the business earned $0.56 earnings per share. Bio-Techne’s revenue for the quarter was up 1.6% compared to the same quarter last year.

Bio-Techne Stock Down 2.2 %

Shares of TECH traded down $1.60 during trading hours on Friday, reaching $71.77. The company’s stock had a trading volume of 829,674 shares, compared to its average volume of 1,081,959. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 56.96, a P/E/G ratio of 8.18 and a beta of 1.29. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57. The company has a quick ratio of 2.88, a current ratio of 4.08 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $75.83 and a two-hundred day moving average of $73.41.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be issued a $0.08 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Bio-Techne’s dividend payout ratio is 25.40%.

Analysts Set New Price Targets

Several brokerages have commented on TECH. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Citigroup downgraded Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a report on Wednesday, May 22nd. Royal Bank of Canada cut their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Thursday, May 2nd. Finally, Robert W. Baird boosted their price objective on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.60.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.