Analysts forecast that BIO-TECHNE Corp (NASDAQ:TECH) will post earnings per share of $1.00 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for BIO-TECHNE’s earnings, with estimates ranging from $0.90 to $1.14. BIO-TECHNE reported earnings of $1.02 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2%. The firm is expected to report its next earnings report on Tuesday, February 5th.
According to Zacks, analysts expect that BIO-TECHNE will report full year earnings of $4.49 per share for the current financial year, with EPS estimates ranging from $4.39 to $4.75. For the next financial year, analysts forecast that the business will post earnings of $5.13 per share, with EPS estimates ranging from $4.88 to $5.27. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for BIO-TECHNE.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $162.34 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s revenue was up 12.7% compared to the same quarter last year.
Shares of TECH traded down $3.82 during mid-day trading on Wednesday, reaching $160.39. The company had a trading volume of 223,225 shares, compared to its average volume of 226,589. BIO-TECHNE has a 52-week low of $125.84 and a 52-week high of $206.04. The company has a quick ratio of 3.50, a current ratio of 4.59 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $6.10 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.89 and a beta of 1.05.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, November 8th. This represents a $1.28 dividend on an annualized basis and a yield of 0.80%. BIO-TECHNE’s dividend payout ratio is currently 31.45%.
Hedge funds have recently modified their holdings of the business. Bruderman Asset Management LLC purchased a new position in BIO-TECHNE during the second quarter worth approximately $113,000. Fort L.P. purchased a new position in BIO-TECHNE during the second quarter worth approximately $115,000. Robecosam AG purchased a new position in BIO-TECHNE during the second quarter worth approximately $144,000. Meeder Asset Management Inc. boosted its position in BIO-TECHNE by 220.3% during the third quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 489 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in BIO-TECHNE during the third quarter worth approximately $192,000. Institutional investors own 93.90% of the company’s stock.
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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