Bio-Techne Corp (TECH) Announces Earnings Results
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%.
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.
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