Bio-Techne Corp (NASDAQ:TECH) posted its earnings results on Tuesday. The biotechnology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08, Bloomberg Earnings reports. The company had revenue of $144.61 million during the quarter, compared to analyst estimates of $142.37 million. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. Bio-Techne Corp’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share.

Shares of Bio-Techne Corp (TECH) traded up 0.7326% during mid-day trading on Wednesday, hitting $131.9799. The stock had a trading volume of 27,906 shares. The firm has a market cap of $4.93 billion, a PE ratio of 65.0147 and a beta of 0.76. The stock’s 50-day moving average is $122.81 and its 200 day moving average is $116.42. Bio-Techne Corp has a 12 month low of $95.68 and a 12 month high of $132.57.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 0.98%. Bio-Techne Corp’s dividend payout ratio is presently 65.98%.

TECH has been the subject of a number of analyst reports. Zacks Investment Research upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Thursday, July 6th. Wells Fargo & Company initiated coverage on Bio-Techne Corp in a report on Thursday, July 13th. They set a “market perform” rating for the company. BidaskClub lowered Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Deutsche Bank AG upped their target price on Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Citigroup Inc. restated a “buy” rating and set a $115.00 target price (down previously from $125.00) on shares of Bio-Techne Corp in a report on Tuesday, October 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $129.50.

In related news, Director Karen A. Holbrook sold 1,059 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the completion of the transaction, the director now owns 914 shares in the company, valued at $111,261.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 1,359 shares of company stock valued at $164,632. Insiders own 3.40% of the company’s stock.

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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.

Earnings History for Bio-Techne Corp (NASDAQ:TECH)

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