Bio-Techne Corp (NASDAQ:TECH) - Research analysts at William Blair lowered their Q2 2018 earnings per share estimates for Bio-Techne Corp in a research note issued to investors on Thursday. William Blair analyst A. Murphy now expects that the biotechnology company will post earnings per share of $0.82 for the quarter, down from their previous estimate of $0.85. William Blair also issued estimates for Bio-Techne Corp’s Q4 2018 earnings at $1.07 EPS.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The firm had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same period in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis.
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TECH has been the topic of several other research reports. Deutsche Bank AG reissued a “buy” rating and set a $122.00 target price (up previously from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Thursday, July 6th. TheStreet raised Bio-Techne Corp from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Finally, Wells Fargo & Company assumed coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They issued a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $125.20.
Shares of Bio-Techne Corp (TECH) traded up 0.05% during midday trading on Monday, reaching $117.53. 25,232 shares of the company’s stock traded hands. The stock has a 50 day moving average of $116.63 and a 200-day moving average of $109.18. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $121.94. The stock has a market cap of $4.39 billion, a P/E ratio of 57.05 and a beta of 0.79.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TECH. Israel Discount Bank of New York purchased a new position in Bio-Techne Corp during the first quarter worth about $105,000. Flinton Capital Management LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bio-Techne Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after buying an additional 163 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.
In other news, Director Charles A. Dinarello sold 5,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total value of $556,850.00. Following the transaction, the director now owns 12,473 shares in the company, valued at approximately $1,389,118.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 10,300 shares of company stock worth $1,147,078. Company insiders own 2.70% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.09%. Bio-Techne Corp’s payout ratio is currently 65.98%.
Bio-Techne Corp Company Profile
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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