Bio-Techne (NASDAQ:TECH – Get Rating) is scheduled to announce its earnings results before the market opens on Wednesday, May 4th. Analysts expect the company to announce earnings of $1.75 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
Bio-Techne (NASDAQ:TECH – Get Rating) last announced its quarterly earnings results on Tuesday, February 1st. The biotechnology company reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.01. The company had revenue of $269.30 million during the quarter, compared to the consensus estimate of $266.57 million. Bio-Techne had a net margin of 20.45% and a return on equity of 16.35%. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. On average, analysts expect Bio-Techne to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.
Shares of TECH opened at $382.13 on Wednesday. The company has a quick ratio of 3.03, a current ratio of 3.81 and a debt-to-equity ratio of 0.16. Bio-Techne has a twelve month low of $347.88 and a twelve month high of $543.85. The company has a market capitalization of $15.01 billion, a P/E ratio of 74.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.21. The firm has a 50 day moving average of $419.91 and a 200 day moving average of $446.30.
Several research firms have issued reports on TECH. Zacks Investment Research raised Bio-Techne from a “hold” rating to a “buy” rating and set a $484.00 price target for the company in a report on Wednesday, April 6th. Wells Fargo & Company downgraded shares of Bio-Techne from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $400.00 to $370.00 in a report on Monday. SVB Leerink upped their target price on shares of Bio-Techne from $530.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Finally, StockNews.com assumed coverage on shares of Bio-Techne in a report on Thursday, March 31st. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $509.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in shares of Bio-Techne by 106.0% during the 2nd quarter. Morgan Stanley now owns 81,809 shares of the biotechnology company’s stock valued at $36,835,000 after purchasing an additional 42,097 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Bio-Techne by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 69,223 shares of the biotechnology company’s stock valued at $35,812,000 after purchasing an additional 1,568 shares during the last quarter. Barclays PLC raised its position in shares of Bio-Techne by 6.8% during the 4th quarter. Barclays PLC now owns 66,815 shares of the biotechnology company’s stock valued at $34,567,000 after buying an additional 4,254 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Bio-Techne by 66.5% during the 4th quarter. Allianz Asset Management GmbH now owns 40,000 shares of the biotechnology company’s stock valued at $20,693,000 after buying an additional 15,972 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Bio-Techne by 6.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 23,977 shares of the biotechnology company’s stock valued at $12,404,000 after buying an additional 1,415 shares in the last quarter. 92.84% of the stock is owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on Bio-Techne (TECH)
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