$283.37 Million in Sales Expected for Bio-Techne Co. (NASDAQ:TECH) This Quarter

Wall Street analysts expect Bio-Techne Co. (NASDAQ:TECHGet Rating) to post sales of $283.37 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Bio-Techne’s earnings, with estimates ranging from $281.90 million to $285.60 million. Bio-Techne posted sales of $243.55 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.3%. The business is expected to report its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Bio-Techne will report full year sales of $1.10 billion for the current financial year, with estimates ranging from $1.10 billion to $1.11 billion. For the next year, analysts expect that the firm will report sales of $1.27 billion, with estimates ranging from $1.25 billion to $1.29 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Bio-Techne.

Bio-Techne (NASDAQ:TECHGet Rating) last released its earnings results on Tuesday, February 1st. The biotechnology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.59 by $0.01. Bio-Techne had a return on equity of 16.35% and a net margin of 20.45%. The business had revenue of $269.30 million during the quarter, compared to analysts’ expectations of $266.57 million. During the same quarter last year, the firm posted $1.26 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis.

Several equities research analysts recently commented on TECH shares. SVB Leerink raised their target price on Bio-Techne from $530.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. StockNews.com began coverage on Bio-Techne in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded Bio-Techne from a “hold” rating to a “buy” rating and set a $484.00 price target on the stock in a report on Wednesday, April 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Bio-Techne has a consensus rating of “Buy” and a consensus price target of $537.40.

A number of large investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in shares of Bio-Techne by 20.8% in the fourth quarter. IFP Advisors Inc now owns 157 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 27 shares in the last quarter. Pendal Group Ltd lifted its holdings in shares of Bio-Techne by 1.9% in the fourth quarter. Pendal Group Ltd now owns 1,471 shares of the biotechnology company’s stock valued at $761,000 after purchasing an additional 28 shares in the last quarter. BOK Financial Private Wealth Inc. lifted its holdings in shares of Bio-Techne by 3.4% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 893 shares of the biotechnology company’s stock valued at $462,000 after purchasing an additional 29 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Bio-Techne by 2.7% in the fourth quarter. Foundry Partners LLC now owns 1,145 shares of the biotechnology company’s stock valued at $592,000 after purchasing an additional 30 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Bio-Techne by 0.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 4,257 shares of the biotechnology company’s stock valued at $2,202,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 92.84% of the company’s stock.

NASDAQ TECH opened at $418.08 on Friday. The business has a 50 day simple moving average of $421.02 and a 200 day simple moving average of $451.55. Bio-Techne has a one year low of $347.88 and a one year high of $543.85. The stock has a market capitalization of $16.43 billion, a P/E ratio of 81.66, a P/E/G ratio of 2.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.81 and a quick ratio of 3.03.

The company also recently declared a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $1.28 annualized dividend and a yield of 0.31%. Bio-Techne’s payout ratio is currently 25.00%.

Bio-Techne Company Profile (Get Rating)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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