BIO-TECHNE Corp (TECH) to Post FY2018 Earnings of $4.07 Per Share, Leerink Swann Forecasts

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) traded up $0.16 during mid-day trading on Friday, reaching $132.12. 58,924 shares of the company traded hands, compared to its average volume of 179,158. The firm has a market capitalization of $5,111.71, a price-to-earnings ratio of 37.49, a PEG ratio of 3.06 and a beta of 0.78. The company has a current ratio of 3.10, a quick ratio of 2.25 and a debt-to-equity ratio of 0.36. BIO-TECHNE has a 52 week low of $98.22 and a 52 week high of $143.64.

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.

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

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