Bio-Techne (NASDAQ:TECH) Issues Earnings Results

Bio-Techne (NASDAQ:TECH) posted its quarterly earnings results on Wednesday. The biotechnology company reported $0.35 earnings per share 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 1.8 %

Shares of Bio-Techne stock traded down $1.36 during trading on Thursday, hitting $73.89. 335,583 shares of the stock traded hands, compared to its average volume of 1,082,384. Bio-Techne has a twelve month low of $61.16 and a twelve month high of $85.57. The company has a fifty day moving average price of $74.62 and a two-hundred day moving average price of $74.37. The stock has a market cap of $11.74 billion, a P/E ratio of 78.78, a PEG ratio of 5.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s dividend payout ratio is currently 34.04%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. KeyCorp increased their target price on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Scotiabank upped their price target on shares of Bio-Techne from $88.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.14.

Insider Activity at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the transaction, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.90% of the stock is currently owned by insiders.

Bio-Techne Company Profile

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.