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

Bio-Techne (NASDAQ:TECH) posted its quarterly earnings data on Wednesday. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 Bio-Techne stock traded down $1.36 on Thursday, hitting $73.89. 335,583 shares of the company’s stock were exchanged, compared to its average volume of 1,082,384. Bio-Techne has a 1 year low of $61.16 and a 1 year high of $85.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. The stock has a market capitalization of $11.74 billion, a PE ratio of 78.78, a PEG ratio of 5.42 and a beta of 1.27. The company has a 50-day simple moving average of $74.62 and a 200-day simple moving average of $74.37.

Bio-Techne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Bio-Techne’s payout ratio is currently 34.04%.

Insiders Place Their Bets

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne 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 completion of the sale, the chief executive officer now directly owns 39,004 shares in the company, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

TECH has been the topic of a number of analyst reports. KeyCorp upped their price target on shares of Bio-Techne from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird increased their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Scotiabank increased their price objective on Bio-Techne from $88.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus target price of $85.14.

Bio-Techne Company Profile

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.