BIO-TECHNE Corp (NASDAQ:TECH) – Investment analysts at Leerink Swann lifted their Q3 2018 earnings estimates for shares of BIO-TECHNE in a research note issued on Monday, Zacks Investment Research reports. Leerink Swann analyst P. Souda now forecasts that the biotechnology company will earn $1.01 per share for the quarter, up from their previous estimate of $0.97. Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for BIO-TECHNE’s Q4 2018 earnings at $1.20 EPS, FY2018 earnings at $3.90 EPS, Q1 2019 earnings at $1.02 EPS, Q2 2019 earnings at $1.02 EPS, Q3 2019 earnings at $1.17 EPS, Q4 2019 earnings at $1.28 EPS and FY2019 earnings at $4.48 EPS.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a research note on Saturday. Craig Hallum reiterated a “buy” rating and set a $160.00 price target (up previously from $140.00) on shares of BIO-TECHNE in a research note on Wednesday. Robert W. Baird lifted their price target on shares of BIO-TECHNE from $154.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. BIO-TECHNE currently has a consensus rating of “Buy” and an average price target of $145.00.
Shares of BIO-TECHNE (TECH) traded up $1.63 during trading on Thursday, hitting $133.59. 189,986 shares of the stock traded hands, compared to its average volume of 179,107. The stock has a market cap of $5,006.15, a PE ratio of 43.80, a PEG ratio of 2.48 and a beta of 0.78. BIO-TECHNE has a 1-year low of $98.22 and a 1-year high of $143.64. The company has a quick ratio of 2.25, a current ratio of 3.10 and a debt-to-equity ratio of 0.36.
BIO-TECHNE (NASDAQ:TECH) last posted its earnings results on Tuesday, February 6th. The biotechnology company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. BIO-TECHNE had a net margin of 19.17% and a return on equity of 14.39%. The business had revenue of $154.15 million during the quarter, compared to the consensus estimate of $145.93 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s revenue was up 16.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, February 15th. BIO-TECHNE’s dividend payout ratio (DPR) is 41.97%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of BIO-TECHNE by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after buying an additional 36,768 shares in the last quarter. Castleark Management LLC purchased a new position in shares of BIO-TECHNE during the 2nd quarter valued at $3,504,000. Bamco Inc. NY lifted its stake in shares of BIO-TECHNE by 1.4% during the 3rd quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after buying an additional 20,286 shares in the last quarter. Atlanta Capital Management Co. L L C lifted its stake in shares of BIO-TECHNE by 0.7% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after buying an additional 14,291 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of BIO-TECHNE by 15.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 298,783 shares of the biotechnology company’s stock valued at $35,107,000 after buying an additional 39,534 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.
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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.
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