Leerink Swann Comments on Bio-Techne Corp’s FY2018 Earnings (TECH)
Bio-Techne Corp (NASDAQ:TECH) – Equities researchers at Leerink Swann increased their FY2018 earnings per share estimates for shares of Bio-Techne Corp in a report released on Wednesday. Leerink Swann analyst P. Souda now expects that the biotechnology company will earn $3.76 per share for the year, up from their previous forecast of $3.75. Leerink Swann also issued estimates for Bio-Techne Corp’s FY2019 earnings at $4.21 EPS.
Bio-Techne Corp (NASDAQ:TECH) last issued its earnings results on Tuesday, May 2nd. The biotechnology company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.04. The company had revenue of $144.04 million during the quarter, compared to analysts’ expectations of $142.83 million. Bio-Techne Corp had a return on equity of 13.80% and a net margin of 12.86%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS.
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A number of other equities analysts have also recently weighed in on the company. BidaskClub cut Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised Bio-Techne Corp from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. TheStreet raised Bio-Techne Corp from a “c+” rating to a “b” rating in a research report on Tuesday, May 2nd. Deutsche Bank AG reissued a “buy” rating and set a $122.00 price target (up previously from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. Finally, Citigroup Inc. reissued a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of Bio-Techne Corp in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $122.60.
Shares of Bio-Techne Corp (TECH) opened at 111.63 on Friday. The stock has a market capitalization of $4.17 billion, a PE ratio of 60.05 and a beta of 0.83. Bio-Techne Corp has a one year low of $95.68 and a one year high of $117.42. The firm has a 50-day moving average price of $111.25 and a 200 day moving average price of $105.38.
The business also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, May 17th. Bio-Techne Corp’s payout ratio is 68.82%.
In other news, Director Karen A. Holbrook sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $111.15, for a total value of $555,750.00. Following the completion of the sale, the director now owns 6,973 shares of the company’s stock, valued at $775,048.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 10,300 shares of company stock valued at $1,145,136 in the last ninety days. Company insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new position in Bio-Techne Corp during the first quarter valued at approximately $105,000. Flinton Capital Management LLC boosted its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 96 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Bio-Techne Corp by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,092 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 78 shares during the period. Israel Discount Bank of New York GFN acquired a new position in Bio-Techne Corp during the fourth quarter valued at approximately $127,000. Finally, Meadow Creek Investment Management LLC boosted its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock valued at $148,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.
About Bio-Techne Corp
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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