Bio-Techne (NASDAQ:TECH) Issues Earnings Results

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

Bio-Techne Stock Down 2.2 %

Bio-Techne stock traded down $1.60 during midday trading on Friday, reaching $71.77. The stock had a trading volume of 829,674 shares, compared to its average volume of 1,081,959. The firm’s fifty day simple moving average is $75.83 and its 200-day simple moving average is $73.41. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57. The stock has a market capitalization of $11.31 billion, a P/E ratio of 56.96, a price-to-earnings-growth ratio of 8.18 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.88 and a current ratio of 4.08.

Bio-Techne Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TECH shares. Royal Bank of Canada dropped their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Robert W. Baird raised their price target on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Bio-Techne presently has a consensus rating of “Moderate Buy” and a consensus 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.