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Bio-Techne Corp TECH

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Stock XNAS Rating as of
$74.75 −1.06 (1.40%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Bio-Techne: Relaunching Coverage With Narrow Moat Rating and $87 Fair Value Estimate

Jay Lee

We are relaunching coverage of Bio-Techne with a narrow moat rating and a fair value estimate of $87 per share. The firm is a leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets. We think it has attractive long-term growth prospects, with the potential for low-double-digit growth starting in fiscal 2025, and has demonstrated strong operating profit margins and free cash flow over the past 10 years. We view the shares as fairly valued currently.

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Price vs Fair Value

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TECH is trading at a 85% premium.
Price
$75.87
Fair Value
$27.00
Uncertainty
High
1-Star Price
$112.44
5-Star Price
$53.10
Economic Moat
Xmryh
Capital Allocation
Hvzlscjpbz

Bulls Say, Bears Say

Bulls

The firm's reputation for excellent proteomic reagents and instruments allow it to generate high profit margins and strong cash flow.

Bears

Bio-Techne's long-term strategy relies on acquisitions, and the company may have difficulty finding suitable targets due to high valuations or scarcity. Additionally, it may fail to successfully integrate and scale up an acquired business.

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Trading Information

Previous Close Price
$75.81
Day Range
$74.68–75.88
52-Week Range
$51.81–89.91
Bid/Ask
$74.75 / $74.83
Market Cap
$11.78 Bil
Volume/Avg
434,354 / 1.1 Mil

Key Statistics

Price/Earnings (Normalized)
41.23
Price/Sales
10.59
Dividend Yield (Trailing)
0.42%
Dividend Yield (Forward)
0.42%
Total Yield
1.09%

Company Profile

Based in Minnesota, Bio-Techne is a life sciences manufacturer supplying consumables and instruments for the pharma, biotech, academic, and diagnostic markets. It reports in two segments: protein sciences (75% of revenue) and diagnostics and genomics (25%). The protein sciences segment sells reagents and analytical instruments used in life sciences research, including antibodies used in protein analysis. The diagnostics and genomics segment sells diagnostic reagents, molecular diagnostics, and spatial biology products. The United States accounts for about 55% of revenue. The firm also has operations in Europe, the Middle East, and Africa (20% of sales), the UK (5%), and Asia-Pacific (15%), with the rest of the world accounting for the remaining 5%.
Sector
Healthcare
Industry
Biotechnology
Stock Style Box
Mid Core
Total Number of Employees
3,050
Website
https://www.bio-techne.com

Competitors

Valuation

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Metric
TECH
BIO
TMO
Price/Earnings (Normalized)
 41.2323.5626.46
Price/Book Value
 5.930.894.80
Price/Sales
 10.593.145.21
Price/Cash Flow
 38.4911.9225.52
Price/Earnings
TECH
BIO
TMO

Financial Strength

Metric
TECH
BIO
TMO
Quick Ratio
 2.494.481.19
Current Ratio
 4.086.571.70
Interest Coverage
 14.52−9.704.83
Quick Ratio
TECH
BIO
TMO

Profitability

Metric
TECH
BIO
TMO
Return on Assets (Normalized)
 10.95%2.49%8.69%
Return on Equity (Normalized)
 14.98%3.50%18.71%
Return on Invested Capital (Normalized)
 12.39%2.78%10.97%
Return on Assets
TECH
BIO
TMO
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