Bio-Techne Corp (TECH) Set to Announce Earnings on Tuesday
Bio-Techne Corp (NASDAQ:TECH) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, October 31st. Analysts expect Bio-Techne Corp to post earnings of $0.88 per share for the quarter.
Bio-Techne Corp (NASDAQ:TECH) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. During the same period last year, the company earned $0.92 EPS. Bio-Techne Corp’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, analysts expect Bio-Techne Corp to post $3.72 EPS for the current fiscal year and $4.1 EPS for the next fiscal year.
Shares of Bio-Techne Corp (NASDAQ:TECH) opened at 123.88 on Tuesday. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $125.40. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 61.02 and a beta of 0.76. The company’s 50 day moving average price is $122.06 and its 200-day moving average price is $115.43.
In other Bio-Techne Corp news, Director Karen A. Holbrook sold 1,059 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total transaction of $128,912.07. Following the transaction, the director now directly owns 914 shares in the company, valued at $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,359 shares of company stock worth $164,632 over the last 90 days. 3.40% of the stock is owned by insiders.
A number of research firms recently commented on TECH. Zacks Investment Research cut Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. upped their price objective on Bio-Techne Corp from $125.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. BidaskClub upgraded Bio-Techne Corp from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Wells Fargo & Company began coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank AG upped their price objective on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $133.75.
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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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