Bio-Techne Co. to Post Q3 2024 Earnings of $0.43 Per Share, KeyCorp Forecasts (NASDAQ:TECH)

Bio-Techne Co. (NASDAQ:TECH) – Investment analysts at KeyCorp lifted their Q3 2024 earnings per share estimates for Bio-Techne in a research report issued on Tuesday, October 31st. KeyCorp analyst P. Knight now expects that the biotechnology company will post earnings per share of $0.43 for the quarter, up from their prior estimate of $0.42. KeyCorp currently has a “Overweight” rating and a $80.00 target price on the stock. The consensus estimate for Bio-Techne’s current full-year earnings is $1.73 per share. KeyCorp also issued estimates for Bio-Techne’s Q4 2024 earnings at $0.47 EPS.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.07. The company had revenue of $301.32 million for the quarter, compared to the consensus estimate of $304.71 million. Bio-Techne had a net margin of 21.57% and a return on equity of 14.89%.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Bio-Techne from a “buy” rating to a “hold” rating in a report on Saturday. TheStreet lowered shares of Bio-Techne from a “b-” rating to a “c+” rating in a research note on Wednesday, October 11th. William Blair started coverage on shares of Bio-Techne in a research note on Monday, August 28th. They set an “outperform” rating for the company. Robert W. Baird reduced their price target on shares of Bio-Techne from $100.00 to $90.00 in a research report on Wednesday, August 9th. Finally, Stifel Nicolaus reduced their price target on shares of Bio-Techne from $104.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.80.

Bio-Techne Trading Up 6.0 %

Bio-Techne stock opened at $58.72 on Friday. The firm has a 50 day simple moving average of $68.52 and a 200-day simple moving average of $77.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.63 and a quick ratio of 3.50. The stock has a market capitalization of $9.29 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 2.91 and a beta of 1.22. Bio-Techne has a 12-month low of $51.79 and a 12-month high of $90.63.

Bio-Techne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be paid a $0.08 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.32 annualized dividend and a yield of 0.54%. Bio-Techne’s dividend payout ratio is presently 21.05%.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, Director Roeland Nusse sold 8,939 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total value of $717,980.48. Following the transaction, the director now owns 51,872 shares in the company, valued at approximately $4,166,359.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Select Equity Group L.P. lifted its holdings in Bio-Techne by 382.9% during the 4th quarter. Select Equity Group L.P. now owns 7,153,947 shares of the biotechnology company’s stock valued at $592,919,000 after purchasing an additional 5,672,587 shares during the last quarter. Morgan Stanley boosted its stake in Bio-Techne by 1,300.4% during the 4th quarter. Morgan Stanley now owns 2,982,630 shares of the biotechnology company’s stock worth $247,200,000 after acquiring an additional 2,769,642 shares during the last quarter. William Blair Investment Management LLC bought a new position in Bio-Techne during the 2nd quarter worth approximately $188,929,000. Norges Bank bought a new position in Bio-Techne in the fourth quarter valued at approximately $136,489,000. Finally, Mackenzie Financial Corp lifted its position in shares of Bio-Techne by 330.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,767,115 shares of the biotechnology company’s stock worth $146,458,000 after purchasing an additional 1,356,899 shares in the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

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.