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

Bio-Techne (NASDAQ:TECH - Get Free Report) posted its quarterly earnings results on Wednesday. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03), Zacks reports. Bio-Techne had a return on equity of 12.73% and a net margin of 13.22%.

Bio-Techne Stock Performance

Shares of Bio-Techne stock traded down $2.20 during trading on Friday, reaching $72.81. The company's stock had a trading volume of 1,215,217 shares, compared to its average volume of 1,235,146. The company has a quick ratio of 3.26, a current ratio of 3.94 and a debt-to-equity ratio of 0.14. The business's 50-day moving average price is $74.56 and its 200-day moving average price is $74.34. Bio-Techne has a 52 week low of $61.16 and a 52 week high of $85.57. The firm has a market cap of $11.57 billion, a PE ratio of 73.55, a P/E/G ratio of 5.54 and a beta of 1.27.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 0.44%. The ex-dividend date of this dividend is Friday, February 14th. Bio-Techne's payout ratio is 32.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TECH shares. Robert W. Baird upped their target price 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. Scotiabank upped their price objective 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 lifted their target price on Bio-Techne from $79.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Thursday. KeyCorp increased their price target on Bio-Techne from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, StockNews.com raised shares of Bio-Techne from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.57.

Insider Buying and Selling

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This 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 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.