Leerink Partnrs Weighs in on Bio-Techne Co.’s Q3 2024 Earnings (NASDAQ:TECH)

Bio-Techne Co. (NASDAQ:TECH) – Leerink Partnrs lowered their Q3 2024 EPS estimates for Bio-Techne in a report issued on Tuesday, October 31st. Leerink Partnrs analyst P. Souda now expects that the biotechnology company will post earnings per share of $0.40 for the quarter, down from their prior estimate of $0.44. The consensus estimate for Bio-Techne’s current full-year earnings is $1.73 per share. Leerink Partnrs also issued estimates for Bio-Techne’s Q4 2024 earnings at $0.46 EPS, Q1 2025 earnings at $0.45 EPS and Q2 2025 earnings at $0.46 EPS.

A number of other equities analysts have also commented on TECH. KeyCorp lowered their price target on shares of Bio-Techne from $115.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday. William Blair assumed coverage on shares of Bio-Techne in a report on Monday, August 28th. They issued an “outperform” rating on the stock. Citigroup decreased their target price on shares of Bio-Techne from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird decreased their target price on shares of Bio-Techne from $100.00 to $90.00 in a report on Wednesday, August 9th. Finally, TheStreet lowered shares of Bio-Techne from a “b-” rating to a “c+” rating in a report on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus price target of $91.80.

Bio-Techne Price Performance

NASDAQ:TECH opened at $58.72 on Friday. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $90.63. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 38.63, a P/E/G ratio of 2.91 and a beta of 1.22. The firm’s 50-day simple moving average is $68.52 and its 200 day simple moving average is $77.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.50 and a current ratio of 4.63.

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. Bio-Techne had a net margin of 21.57% and a return on equity of 14.89%. The business had revenue of $301.32 million for the quarter, compared to analyst estimates of $304.71 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Orion Capital Management LLC acquired a new position in Bio-Techne during the first quarter worth $25,000. Exchange Traded Concepts LLC purchased a new stake in shares of Bio-Techne in the second quarter valued at about $27,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bio-Techne in the third quarter valued at about $27,000. Harbour Investments Inc. raised its holdings in shares of Bio-Techne by 305.0% in the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 244 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Bio-Techne by 124.7% in the second quarter. Huntington National Bank now owns 337 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 94.64% of the company’s stock.

Insider Activity at Bio-Techne

In related news, Director Roeland Nusse sold 8,939 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $80.32, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.45% of the stock is owned by corporate insiders.

Bio-Techne Dividend Announcement

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

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.