Latest Stocks: Zacks: Brokerages Expect BIO-TECHNE Corp (TECH) to Announce $0.91 EPS

Latest Stocks: Zacks: Brokerages Expect BIO-TECHNE Corp (TECH) to Announce $0.91 EPS

Brokerages expect BIO-TECHNE Corp (NASDAQ:TECH) to report earnings of $0.91 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for BIO-TECHNE Corp’s earnings, with estimates ranging from $0.87 to $0.94. BIO-TECHNE Corp reported earnings per share of $0.87 during the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The firm is expected to issue its next earnings results on Wednesday, August 16th.

On average, analysts expect that BIO-TECHNE Corp will report full year earnings of $3.32 per share for the current fiscal year, with EPS estimates ranging from $3.26 to $3.39. For the next fiscal year, analysts anticipate that the business will report earnings of $3.64 per share, with EPS estimates ranging from $3.54 to $3.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for BIO-TECHNE Corp.

BIO-TECHNE Corp (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, May 2nd. The biotechnology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $144.04 million for the quarter, compared to analyst estimates of $142.83 million. BIO-TECHNE Corp had a return on equity of 13.95% and a net margin of 14.87%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. A number of research firms recently commented on TECH. Citigroup Inc reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $115.00) on shares of BIO-TECHNE Corp in a report on Wednesday. TheStreet raised shares of BIO-TECHNE Corp from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of BIO-TECHNE Corp from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank AG reissued a “buy” rating and set a $122.00 target price (up previously from $115.00) on shares of BIO-TECHNE Corp in a report on Wednesday. Finally, Janney Montgomery Scott cut shares of BIO-TECHNE Corp from a “buy” rating to a “neutral” rating in a report on Monday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $122.60.

Hedge funds have recently bought and sold shares of the stock. Brown Capital Management LLC raised its stake in BIO-TECHNE Corp by 1.4% in the fourth quarter. Brown Capital Management LLC now owns 2,291,016 shares of the biotechnology company’s stock valued at $235,585,000 after buying an additional 30,963 shares during the last quarter. Atlanta Capital Management Co. L L C raised its stake in BIO-TECHNE Corp by 0.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 1,227,596 shares of the biotechnology company’s stock valued at $126,234,000 after buying an additional 3,085 shares during the last quarter. Royce & Associates LP raised its stake in BIO-TECHNE Corp by 4.6% in the fourth quarter. Royce & Associates LP now owns 775,259 shares of the biotechnology company’s stock valued at $79,720,000 after buying an additional 33,900 shares during the last quarter. Bank of New York Mellon Corp raised its stake in BIO-TECHNE Corp by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 494,459 shares of the biotechnology company’s stock valued at $50,262,000 after buying an additional 20,064 shares during the last quarter. Finally, Norges Bank acquired a new stake in BIO-TECHNE Corp during the fourth quarter valued at about $49,542,000. Institutional investors and hedge funds own 94.74% of the company’s stock. BIO-TECHNE Corp (NASDAQ:TECH) traded down 0.03% during mid-day trading on Tuesday, reaching $110.83. The company’s stock had a trading volume of 204,651 shares. The firm has a 50 day moving average price of $103.25 and a 200 day moving average price of $103.76. BIO-TECHNE Corp has a 52-week low of $95.68 and a 52-week high of $117.42.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 17th. This represents a $1.28 annualized dividend and a yield of 1.15%. BIO-TECHNE Corp’s payout ratio is 60.95%. 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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