Bio-Techne (NASDAQ:TECH) Releases Earnings Results, Meets Expectations

VaselineAugust 10, 2024

0 2 minutes read

Bio-Techne (NASDAQ:TECH – Get Free Report ) released its quarterly earnings results on Wednesday. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49, Briefing.com reports. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The company’s quarterly revenue was up 1.6% year over year. In the same period last year, the company posted earnings of $0.56 per share.

Bio-Techne stock down 2.2%

Shares of TECH stock opened at $71.77 on Friday. The company’s 50-day simple moving average is $75.83, and its 200-day simple moving average is $73.41. Bio-Techne has a one year low of $51.79 and a one year high of $85.57. The company has a market cap of $11.31 billion, a P/E ratio of 56.96, a PEG ratio of 8.18 and a beta of 1.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.08, and a quick ratio of 2.88.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 19. This represents a dividend of $0.32 on an annualized basis and a yield of 0.45%. Bio-Techne’s dividend payout ratio (DPR) is currently 25.40%.

Analysts set new price targets

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A number of research analysts recently issued reports on the company. Citigroup cut Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research report on Wednesday, May 22nd. Royal Bank of Canada decreased their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday. Robert W. Baird boosted their price target on Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Benchmark reissued a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and a consensus price target of $80.60.

Get the latest research report on TECH

Bio-Techne Company Profile

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