Q2 2018 EPS Estimates for Bio-Techne Corp Raised by William Blair (TECH)
Bio-Techne Corp (NASDAQ:TECH) – Equities research analysts at William Blair lifted their Q2 2018 earnings per share estimates for Bio-Techne Corp in a research note issued on Wednesday. William Blair analyst A. Murphy now forecasts that the biotechnology company will post earnings of $0.84 per share for the quarter, up from their prior forecast of $0.82. William Blair also issued estimates for Bio-Techne Corp’s Q3 2018 earnings at $0.96 EPS, Q4 2018 earnings at $1.09 EPS, FY2018 earnings at $3.72 EPS, Q1 2019 earnings at $0.89 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.18 EPS and FY2019 earnings at $4.03 EPS.
Bio-Techne Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. The firm had revenue of $144.61 million for the quarter, compared to the consensus estimate of $142.37 million. Bio-Techne Corp had a net margin of 12.54% and a return on equity of 14.11%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share.
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A number of other research analysts have also recently commented on TECH. Zacks Investment Research cut shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Bio-Techne Corp from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Citigroup Inc. restated a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Bio-Techne Corp in a research note on Tuesday, October 24th. Deutsche Bank AG set a $145.00 price target on shares of Bio-Techne Corp and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of Bio-Techne Corp in a report on Thursday, July 13th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $131.25.
Bio-Techne Corp (NASDAQ:TECH) traded down $0.46 during trading on Monday, reaching $128.83. 11,845 shares of the company’s stock traded hands, compared to its average volume of 150,188. The firm has a market capitalization of $4,834.57, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 3.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.87 and a quick ratio of 2.25. Bio-Techne Corp has a 52-week low of $95.68 and a 52-week high of $132.57.
The company 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. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, November 9th. Bio-Techne Corp’s payout ratio is 66.32%.
In related news, Director Karen A. Holbrook sold 1,059 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total value of $128,912.07. Following the completion of the sale, the director now owns 914 shares of the company’s stock, valued at $111,261.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert V. Baumgartner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now directly owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,359 shares of company stock valued at $815,532. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 valued at $171,000 after purchasing an additional 163 shares in the last quarter. Underhill Investment Management LLC acquired a new stake in shares of Bio-Techne Corp in the second quarter valued at approximately $223,000. Flinton Capital Management LLC increased its holdings in shares of Bio-Techne Corp by 84.8% in the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 896 shares in the last quarter. LS Investment Advisors LLC increased its holdings in shares of Bio-Techne Corp by 22.0% in the second quarter. LS Investment Advisors LLC now owns 2,089 shares of the biotechnology company’s stock valued at $245,000 after purchasing an additional 377 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Bio-Techne Corp by 6.0% in the second quarter. Huntington National Bank now owns 2,138 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 121 shares in the last quarter. 98.66% of the stock is owned by institutional investors and hedge funds.
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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