Q3 2018 Earnings Forecast for BIO-TECHNE Corp (TECH) Issued By Leerink Swann

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) traded down $2.07 during midday trading on Thursday, reaching $134.38. 41,513 shares of the company’s stock were exchanged, compared to its average volume of 179,177. The company has a quick ratio of 2.25, a current ratio of 3.10 and a debt-to-equity ratio of 0.36. The company has a market cap of $5,160.79, a P/E ratio of 44.06, a P/E/G ratio of 3.11 and a beta of 0.78. BIO-TECHNE has a 52-week low of $98.22 and a 52-week high of $143.64.

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.

Earnings History and Estimates for BIO-TECHNE (NASDAQ:TECH)

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