BIO-TECHNE Corp (NASDAQ:TECH) – Equities researchers at Leerink Swann boosted their Q2 2018 EPS estimates for shares of BIO-TECHNE in a report issued on Monday. Leerink Swann analyst P. Souda now expects that the biotechnology company will earn $0.88 per share for the quarter, up from their prior estimate of $0.86. Leerink Swann has a “Buy” rating on the stock.

BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.08. BIO-TECHNE had a net margin of 12.54% and a return on equity of 14.11%. The firm had revenue of $144.61 million during the quarter, compared to analysts’ expectations of $142.37 million. During the same period last year, the business earned $0.84 earnings per share. BIO-TECHNE’s revenue was up 10.7% compared to the same quarter last year.

Several other research firms have also recently issued reports on TECH. Zacks Investment Research upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Wednesday, October 11th. BidaskClub upgraded shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Deutsche Bank set a $145.00 price target on shares of BIO-TECHNE and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Citigroup reiterated a “buy” rating and set a $115.00 price target (down from $125.00) on shares of BIO-TECHNE in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. BIO-TECHNE presently has an average rating of “Buy” and an average price target of $135.00.

BIO-TECHNE (TECH) traded up $0.24 during trading on Wednesday, reaching $140.26. 194,200 shares of the company traded hands, compared to its average volume of 175,600. BIO-TECHNE has a 52-week low of $95.68 and a 52-week high of $141.29. The firm has a market capitalization of $5,250.00, a PE ratio of 69.78, a P/E/G ratio of 3.49 and a beta of 0.75. The company has a current ratio of 2.87, a quick ratio of 2.25 and a debt-to-equity ratio of 0.35.

In other BIO-TECHNE news, Director Robert V. Baumgartner sold 5,000 shares of BIO-TECHNE stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $130.18, for a total transaction of $650,900.00. Following the completion of the sale, the director now directly owns 12,712 shares in the company, valued at $1,654,848.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in shares of BIO-TECHNE by 83.6% in the fourth quarter. Bank of Montreal Can now owns 16,412 shares of the biotechnology company’s stock valued at $2,126,000 after purchasing an additional 7,473 shares during the period. Gofen & Glossberg LLC IL purchased a new position in shares of BIO-TECHNE in the fourth quarter valued at approximately $205,000. Confluence Investment Management LLC boosted its stake in shares of BIO-TECHNE by 2.3% in the fourth quarter. Confluence Investment Management LLC now owns 31,875 shares of the biotechnology company’s stock valued at $4,130,000 after purchasing an additional 727 shares during the period. California Public Employees Retirement System boosted its stake in shares of BIO-TECHNE by 2.8% in the third quarter. California Public Employees Retirement System now owns 71,993 shares of the biotechnology company’s stock valued at $8,703,000 after purchasing an additional 1,993 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of BIO-TECHNE by 1.4% in the third quarter. Bamco Inc. NY now owns 1,520,228 shares of the biotechnology company’s stock valued at $183,780,000 after purchasing an additional 20,286 shares during the period. 96.96% of the stock is owned by institutional investors and hedge funds.

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BIO-TECHNE Company Profile

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 (NASDAQ:TECH)

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