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Bio-Techne Corporation (TECH), with a market cap of $12.3 billion, is a global biotech company that develops, manufactures, and sells biotechnology products and clinical diagnostic controls, headquartered in Minneapolis, Minnesota. It is expected to announce its Q4 earnings, before the market opens on Wednesday, Aug. 7.
Ahead of the event, analysts expect Bio-Techne to report a profit of $0.44 per share, down 21.4% from $0.56 per share reported in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in two of the past four quarters while missing on two other occasions. It reported an EPS of $0.44 in the latest quarter, beating the consensus estimate by 10%.
Looking ahead to fiscal 2024, analysts expect Bio-Techne to report an EPS of $1.56, down 12.9% from $1.79 in fiscal 2023. However, in fiscal 2025, its EPS is expected to grow 15.4% annually to $1.80.
TECH stock is up marginally on a YTD basis, underperforming the S&P 500 Index’s ($SPX) 16.7% gains and the S&P 500 Healthcare Sector SPDR’s (XLV) 9.1% returns over the same time frame.
On May 1, Bio-Techne announced its Q3 earnings report, surpassing both revenue and profit expectations. Despite a challenging funding environment in China, the company’s strategic initiatives have proven effective, particularly in the Diagnostics and Genomics segments, where revenue grew by 16% annually to $87.5 million. This positive performance led to a 16.2% surge in the stock following the earnings release.
The consensus opinion on Bio-Techne stock is bullish, with an overall “Strong Buy” rating. Out of the 14 analysts covering the stock, 11 recommend a “Strong Buy,” and three suggest a “Hold” rating.
The average target price for Bio-Techne is $82.69, indicating a potential upside of 6.3% from current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
