Bio-Techne Corp (NASDAQ:TECH) – Equities research analysts at William Blair increased their FY2019 EPS estimates for Bio-Techne Corp in a report released on Monday. William Blair analyst A. Murphy now expects that the biotechnology company will post earnings of $3.99 per share for the year, up from their prior forecast of $3.98.

Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The business had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter in the previous year, the business posted $0.92 earnings per share. The business’s revenue was up 16.2% compared to the same quarter last year.

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A number of other research analysts have also weighed in on TECH. Zacks Investment Research upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Thursday, July 6th. Deutsche Bank AG restated a “buy” rating and issued a $122.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a report on Wednesday, May 3rd. BidaskClub lowered Bio-Techne Corp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company started coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating on the stock. Finally, TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $127.50.

Bio-Techne Corp (NASDAQ TECH) traded up 0.088% on Wednesday, reaching $120.045. 63,510 shares of the company’s stock were exchanged. The firm has a market cap of $4.48 billion, a PE ratio of 58.274 and a beta of 0.79. Bio-Techne Corp has a one year low of $95.68 and a one year high of $121.94. The firm has a 50 day moving average price of $116.88 and a 200 day moving average price of $110.05.

A number of hedge funds have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its stake in shares of Bio-Techne Corp by 51.8% in the second quarter. Lord Abbett & CO. LLC now owns 327,274 shares of the biotechnology company’s stock valued at $38,455,000 after buying an additional 111,629 shares during the period. WFG Advisors LP increased its position in Bio-Techne Corp by 11.8% in the second quarter. WFG Advisors LP now owns 5,686 shares of the biotechnology company’s stock valued at $668,000 after buying an additional 601 shares in the last quarter. Wasatch Advisors Inc. increased its position in Bio-Techne Corp by 6.6% in the second quarter. Wasatch Advisors Inc. now owns 7,169 shares of the biotechnology company’s stock valued at $842,000 after buying an additional 445 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Bio-Techne Corp by 5.1% in the second quarter. Public Employees Retirement System of Ohio now owns 49,585 shares of the biotechnology company’s stock valued at $5,826,000 after buying an additional 2,395 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in Bio-Techne Corp during the second quarter valued at $286,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

In other Bio-Techne Corp news, Director Charles A. Dinarello sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $111.37, for a total value of $556,850.00. Following the transaction, the director now owns 12,473 shares in the company, valued at approximately $1,389,118.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 5,300 shares of company stock worth $591,328 in the last 90 days. 2.70% of the stock is currently owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.28 dividend on an annualized basis and a yield of 1.07%. Bio-Techne Corp’s payout ratio is currently 65.98%.

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.

Earnings History and Estimates for Bio-Techne Corp (NASDAQ:TECH)

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