Bio-Techne (NASDAQ:TECH) Releases Earnings Results, Misses Expectations By $0.03 EPS

Bio-Techne (NASDAQ:TECH) announced its quarterly earnings results on Wednesday. The biotechnology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03), Zacks reports. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%.

Bio-Techne Stock Down 0.3 %

TECH stock opened at $75.01 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. Bio-Techne has a 1-year low of $61.16 and a 1-year high of $85.57. The stock has a market capitalization of $11.92 billion, a P/E ratio of 79.80, a P/E/G ratio of 5.42 and a beta of 1.27. The business has a fifty day moving average price of $74.61 and a 200-day moving average price of $74.37.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 17th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Bio-Techne’s payout ratio is currently 34.04%.

Insider Buying and Selling at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TECH. Robert W. Baird upped their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Scotiabank boosted their target price on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Thursday. Royal Bank of Canada raised their price target on Bio-Techne from $79.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, KeyCorp lifted their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.57.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.