Bio-Techne (NASDAQ:TECH) Releases Earnings Results, Misses Estimates By $0.03 EPS

Bio-Techne (NASDAQ:TECH) issued its earnings results on Wednesday. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 NASDAQ TECH traded up $4.37 during trading on Wednesday, hitting $76.92. 919,077 shares of the company traded hands, compared to its average volume of 1,017,020. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 81.84, a P/E/G ratio of 5.42 and a beta of 1.27. The business’s fifty day moving average is $74.62 and its 200 day moving average is $74.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne has a fifty-two week low of $61.16 and a fifty-two week high of $85.57.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be paid 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 presently 34.04%.

Insiders Place Their Bets

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the 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 directly owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TECH shares. Scotiabank boosted their target price on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.