BIO-TECHNE Corp (NASDAQ:TECH) – Equities research analysts at Leerink Swann increased their Q3 2018 earnings estimates for BIO-TECHNE in a research report issued to clients and investors on Tuesday. Leerink Swann analyst P. Souda now expects that the biotechnology company will earn $1.09 per share for the quarter, up from their prior forecast of $1.01. Leerink Swann has a “Buy” rating on the stock. Leerink Swann also issued estimates for BIO-TECHNE’s Q4 2018 earnings at $1.21 EPS, Q2 2019 earnings at $1.11 EPS, Q3 2019 earnings at $1.24 EPS and Q4 2019 earnings at $1.33 EPS.
TECH has been the subject of a number of other research reports. Craig Hallum reaffirmed a “buy” rating and set a $160.00 price target (up previously from $140.00) on shares of BIO-TECHNE in a report on Wednesday. Robert W. Baird upped their price target on shares of BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Investment Research cut shares of BIO-TECHNE from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Finally, Deutsche Bank set a $145.00 price objective on shares of BIO-TECHNE and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $147.00.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.10. The firm had revenue of $154.15 million during the quarter, compared to the consensus estimate of $145.93 million. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 EPS.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Zions Bancorporation bought a new position in shares of BIO-TECHNE during the third quarter valued at about $178,000. Gofen & Glossberg LLC IL purchased a new stake in BIO-TECHNE during the fourth quarter worth about $205,000. Aull & Monroe Investment Management Corp purchased a new stake in BIO-TECHNE during the fourth quarter worth about $214,000. Flinton Capital Management LLC increased its holdings in BIO-TECHNE by 84.8% during the second quarter. Flinton Capital Management LLC now owns 1,952 shares of the biotechnology company’s stock worth $229,000 after buying an additional 896 shares during the last quarter. Finally, Turner Investments LLC purchased a new stake in BIO-TECHNE during the third quarter worth about $242,000. Institutional investors own 96.89% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, February 15th. BIO-TECHNE’s dividend payout ratio (DPR) is presently 41.97%.
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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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