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

Bio-Techne (NASDAQ:TECH) 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 net margin of 12.86% and a return on equity of 12.76%.

Bio-Techne Stock Performance

Shares of NASDAQ:TECH traded up $4.11 during trading hours on Wednesday, hitting $76.66. The stock had a trading volume of 1,131,442 shares, compared to its average volume of 1,017,020. The stock’s fifty day simple moving average is $74.62 and its 200 day simple moving average is $74.36. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 81.64, 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 has a 1-year low of $61.16 and a 1-year high of $85.57.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 17th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Bio-Techne’s payout ratio is 34.04%.

Analysts Set New Price Targets

A number of analysts have weighed in on TECH shares. Robert W. Baird increased their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Scotiabank lifted their target price on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.00.

Insider Transactions at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of the firm’s 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 transaction, the chief executive officer now owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

About Bio-Techne

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.