Bio-Techne (NASDAQ:TECH) Releases Earnings Results

Bio-Techne (NASDAQ:TECH) issued its quarterly earnings data on Wednesday. The biotechnology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03), Zacks reports. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%.

Bio-Techne Stock Up 6.0 %

Shares of TECH stock traded up $4.37 during mid-day trading on Wednesday, reaching $76.92. 919,077 shares of the company’s stock traded hands, compared to its average volume of 1,017,020. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $74.62 and its 200-day moving average price is $74.36. The company has a market cap of $12.22 billion, a P/E ratio of 81.84, a P/E/G ratio of 5.42 and a beta of 1.27. Bio-Techne has a 12 month low of $61.16 and a 12 month high of $85.57.

Bio-Techne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.42%. Bio-Techne’s dividend payout ratio is currently 34.04%.

Insider Buying and Selling

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the transaction, the chief executive officer now owns 39,004 shares in the company, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their target price on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Scotiabank lifted their price target on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

Bio-Techne Company Profile

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.