Bio-Techne Reports Quarterly Earnings, Falls Short of Expectations

Bio-Techne (NASDAQ:TECH) announced its quarterly earnings on Wednesday, revealing earnings per share (EPS) of $0.35 for the quarter. This result fell short of analysts' consensus expectation of $0.38 by $0.03, according to Zacks. Additionally, Bio-Techne is noted to have a net margin of 12.86% and a return on equity of 12.76%.

Bio-Techne Stock Performance

On the day of the earnings report, shares of Bio-Techne gained 6.0%, with prices reaching $76.92 during trading. A total of 919,077 shares changed hands, which is less than its average trading volume of 1,017,020 shares. The company boasts a market capitalization of $12.22 billion, a price-to-earnings ratio of 81.84, and a P/E/G ratio of 5.42. Bio-Techne's stock has a beta of 1.27, indicating some level of market volatility. Its fifty-day moving average stands at $74.62, while the 200-day moving average is $74.36. The firm’s debt-to-equity ratio is relatively low at 0.14, with a strong quick ratio of 3.26 and a current ratio of 4.56. Over the past year, the stock has reached a low of $61.16 and a high of $85.57.

Dividend Declaration

Bio-Techne also announced a quarterly dividend of $0.08 per share, payable on February 28th for investors who hold the stock as of February 17th. This dividend yields an annualized total of $0.32, equating to a yield of 0.42%. The company's dividend payout ratio currently stands at 34.04%.

Insider Transactions

In related corporate news, CEO Kim Kelderman sold 13,392 shares at an average price of $77.29, totaling approximately $1,035,067.68. Following this sale, the CEO’s total ownership in the company has decreased to 39,004 shares, valued at about $3,014,619.16, reflecting a decrease of 25.56%. Such transactions are publicly disclosed in filings made with the Securities & Exchange Commission, which can be viewed by the public.

Analyst Ratings and Price Targets

Several analysts have recently provided updated evaluations on Bio-Techne shares. Scotiabank raised its target price from $83.00 to $88.00 with a "sector outperform" rating as of October 31st. Additionally, StockNews.com increased its rating from "hold" to "buy" on November 12th. Robert W. Baird also raised its price target from $82.00 to $84.00 while maintaining an "outperform" rating. Currently, two analysts rate the stock as hold, whereas five analysts provide a buy rating. According to data from MarketBeat, Bio-Techne has an overall consensus rating of "Moderate Buy" with a target price averaging at $84.00.

Company Overview

Bio-Techne Corporation, along with its subsidiaries, specializes in the development, manufacturing, and sale of life science reagents, instruments, and services for both research and clinical diagnostic markets around the world, including the United States, United Kingdom, Europe, the Middle East, Africa, Greater China, and the Asia-Pacific region.

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