Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies. This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids. The Diagnostics and Genomics segment provides diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and nucleic acid analysis products for use in diagnostic or research applications, as well as instruments and process control products for hematology, blood chemistry, blood gases, and coagulation controls and reagents used in various diagnostic applications. It offers its products under R&D Systems, Novus Biologicals, Tocris Biosciences, ProteinSimple, Advanced Cell Diagnostics, and ExosomeDx brands. Bio-Techne Corporation has a clinical research collaboration with Carterra Inc. for the study of COVID-19 variants. The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014. Bio-Techne Corporation was founded in 1976 and is headquartered in Minneapolis, Minnesota.
Analyst Ratings Changes
Several equities research analysts have issued reports on TECH shares. KeyCorp dropped their target price on shares of Bio-Techne from $600.00 to $500.00 in a research report on Thursday, May 5th. Wells Fargo & Company lowered shares of Bio-Techne from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $400.00 to $370.00 in a report on Monday, April 25th. Robert W. Baird lowered their price objective on shares of Bio-Techne from $500.00 to $470.00 in a report on Friday. Stephens decreased their target price on shares of Bio-Techne from $500.00 to $480.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, StockNews.com downgraded shares of Bio-Techne from a "buy" rating to a "hold" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $489.17.
Bio-Techne Price Performance
Shares of TECH opened at $382.97 on Monday. The company has a market capitalization of $15.03 billion, a P/E ratio of 57.85, a price-to-earnings-growth ratio of 1.76 and a beta of 1.22. The company has a quick ratio of 2.79, a current ratio of 3.44 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $357.01 and a 200 day moving average of $386.38. Bio-Techne has a twelve month low of $318.07 and a twelve month high of $543.85.
Bio-Techne (NASDAQ:TECH - Get Rating) last posted its earnings results on Thursday, August 4th. The biotechnology company reported $2.05 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.03). Bio-Techne had a return on equity of 16.97% and a net margin of 24.61%. The company had revenue of $288.30 million during the quarter, compared to the consensus estimate of $287.04 million. During the same period last year, the firm posted $1.67 EPS. The company's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, equities research analysts anticipate that Bio-Techne will post 8.35 earnings per share for the current fiscal year.
Bio-Techne Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, August 12th. Bio-Techne's dividend payout ratio (DPR) is 19.34%.
Insider Transactions at Bio-Techne
In other Bio-Techne news, Director Robert V. Baumgartner acquired 300 shares of the company's stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $352.55 per share, for a total transaction of $105,765.00. Following the acquisition, the director now directly owns 10,106 shares in the company, valued at $3,562,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Charles R. Kummeth sold 5,104 shares of the company's stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $365.00, for a total transaction of $1,862,960.00. Following the transaction, the chief executive officer now directly owns 198,338 shares of the company's stock, valued at approximately $72,393,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert V. Baumgartner purchased 300 shares of the company's stock in a transaction on Tuesday, May 10th. The shares were purchased at an average price of $352.55 per share, for a total transaction of $105,765.00. Following the purchase, the director now owns 10,106 shares in the company, valued at approximately $3,562,870.30. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company's stock.
