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

Bio-Techne (NASDAQ:TECH) announced its quarterly earnings results on Wednesday. The biotechnology company reported $0.35 earnings per share for the quarter, missing the consensus estimate 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 Trading Down 0.3 %

NASDAQ:TECH opened at $75.01 on Friday. The firm has a 50 day moving average of $74.61 and a 200 day moving average of $74.37. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14. Bio-Techne has a 52 week low of $61.16 and a 52 week high of $85.57. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 79.80, a PEG ratio of 5.42 and a beta of 1.27.

Bio-Techne Announces Dividend

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

Insider Transactions at Bio-Techne

In related news, CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. The trade was a 25.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.