Bio-Techne Corp (NASDAQ:TECH) Issues Quarterly Earnings Results
Bio-Techne Corp (NASDAQ:TECH) released its earnings results on Tuesday. The biotechnology company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10, Bloomberg Earnings reports. Bio-Techne Corp had a return on equity of 13.80% and a net margin of 12.86%. The business had revenue of $156.60 million for the quarter, compared to the consensus estimate of $150.25 million. During the same period in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year.
Bio-Techne Corp (NASDAQ TECH) traded down 1.14% on Tuesday, hitting $114.90. The stock had a trading volume of 229,289 shares. The firm has a market cap of $4.29 billion, a PE ratio of 61.81 and a beta of 0.79. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $121.94. The company has a 50-day moving average price of $115.98 and a 200 day moving average price of $108.12.
TECH has been the topic of several analyst reports. Deutsche Bank AG reissued a “buy” rating and issued a $122.00 target price (up from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. BidaskClub raised Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research raised Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a report on Thursday, July 6th. TheStreet raised Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Finally, Wells Fargo & Company initiated coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Bio-Techne Corp has a consensus rating of “Buy” and a consensus price target of $123.20.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 5,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $111.15, for a total transaction of $555,750.00. Following the sale, the director now owns 6,973 shares of the company’s stock, valued at approximately $775,048.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 10,300 shares of company stock worth $1,146,707 in the last ninety days. Insiders own 2.70% of the company’s stock.
About Bio-Techne Corp
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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