BIO-TECHNE Corp (NASDAQ:TECH) – Investment analysts at Leerink Swann increased their FY2018 EPS estimates for shares of BIO-TECHNE in a research note issued on Tuesday. Leerink Swann analyst P. Souda now expects that the biotechnology company will post earnings of $4.07 per share for the year, up from their prior forecast of $3.90. Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for BIO-TECHNE’s FY2019 earnings at $4.67 EPS.
Several other analysts have also commented on TECH. Robert W. Baird raised their price target on shares of BIO-TECHNE from $154.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday. Craig Hallum reiterated a “buy” rating and issued a $160.00 target price (up previously from $140.00) on shares of BIO-TECHNE in a research report on Wednesday. Zacks Investment Research lowered 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, Citigroup reiterated a “buy” rating and issued a $115.00 target price (down previously from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. BIO-TECHNE currently has a consensus rating of “Buy” and an average price target of $147.00.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.10. The firm had revenue of $154.15 million during the quarter, compared to analysts’ expectations of $145.93 million. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, February 15th. BIO-TECHNE’s dividend payout ratio is currently 41.97%.
Several large investors have recently bought and sold shares of the company. Bamco Inc. NY raised its stake in BIO-TECHNE by 1.4% during the third quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock worth $183,780,000 after purchasing an additional 20,286 shares during the period. State Street Corp raised its stake in shares of BIO-TECHNE by 0.5% in the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after acquiring an additional 5,078 shares during the period. Jackson Square Partners LLC raised its stake in shares of BIO-TECHNE by 3.5% in the 3rd quarter. Jackson Square Partners LLC now owns 861,616 shares of the biotechnology company’s stock valued at $104,160,000 after acquiring an additional 28,769 shares during the period. Bank of New York Mellon Corp raised its stake in shares of BIO-TECHNE by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 501,317 shares of the biotechnology company’s stock valued at $60,603,000 after acquiring an additional 2,698 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of BIO-TECHNE by 13.7% in the 4th quarter. First Trust Advisors LP now owns 410,991 shares of the biotechnology company’s stock valued at $53,244,000 after acquiring an additional 49,470 shares during the period. 96.89% of the stock is currently owned by hedge funds and other institutional investors.
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BIO-TECHNE 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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