Company Reports

Bio-Techne is a market leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets. On June 25, 2026, Merck KGaA announced a proposed acquisition of Bio-Techne, which is expected to close by late 2026 or early 2027.

On June 25, Merck KGaA announced its proposal to acquire Bio-Techne for $73 per share in cash, which represents an enterprise value of $11.3 billion. The deal is expected to close by late 2026 or early 2027, subject to approval by regulators and Bio-Techne shareholders.

Bio-Techne is a market leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets. On June 25, 2026, Merck KGaA announced a proposed acquisition of Bio-Techne, which is expected to close by late 2026 or early 2027.

Bio-Techne reported a 2% revenue decline for its third fiscal quarter and a 34.2% adjusted operating income margin, down 70 basis points. Revenue from biotech customers declined in the high single digits. Shares sold off 16% from the previous day's close.

Bio-Techne is a market leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets.

Life science stocks have been under pressure since late 2022, but with profits expected to rebound in the high single digits in 2026 on average and potentially accelerate even further in 2027-30 due to upcoming catalysts, we see growing momentum in the industry’s profit growth trajectory.

Bio-Techne reported flat revenue year on year for its second fiscal quarter, while adjusted operating margin increased 100 basis points to 31.1%. Organic revenue growth for protein sciences was 1%, while diagnostics and spatial biology was 3%.

Bio-Techne reported a year-on-year organic revenue decline of 1% for the first quarter of its fiscal 2026, which included a 3% organic decline in protein sciences and 3% organic growth in diagnostics and spatial biology.

Bio-Techne reported organic revenue growth of 3% for the fourth quarter of its fiscal 2025, which included 4% organic growth in protein sciences and 1% organic decline in diagnostics and spatial biology. Additionally, the company announced its divestiture of Exosome Diagnostics.

Bio-Techne is a market leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets.

Bio-Techne reported fiscal third-quarter organic revenue growth of 6% year on year, consisting of 7% organic growth in protein sciences and 2% in diagnostics and spatial biology. Adjusted operating margin was 34.9%, a 1.9-percentage-point improvement over the year-ago period.

Bio-Techne is a market leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets.

Over the past week, life science shares have experienced significant volatility related to a deepening trade war with China and as broader US tariffs were implemented and then paused for 90 days to allow time for negotiations. A pharmaceutical-specific tariff is also being considered.

Narrow-moat Bio-Techne reported strong second-quarter earnings with revenue of $297 million, or 9% year-on-year growth. Management cited improvement in its biopharma end markets as well as earlier-than-expected timing of orders in its cell and gene therapy solutions. We had expected fiscal 2025 to be a year of recovery for the company, and so far the first half has exceeded our expectations. We maintain our fair value estimate of $87 per share and view the stock as modestly undervalued at current market prices.

Narrow-moat Bio-Techne’s first-quarter revenue was $290 million, or 5% year-on-year growth, which is just above our expectation of low-single-digit growth. We think this is a healthy start to fiscal 2025, which we expect to be a year of recovery. We maintain our fair value estimate of $87 per share and view the stock as slightly undervalued at current prices.

Narrow-moat Bio-Techne’s fourth-quarter earnings were in line with our expectations. Revenue was $306 million for the three months and $1.2 billion for the full year ended June 30, which both represented 1% organic year-over-year growth. We are maintaining our fair value estimate of $87 per share and view shares as modestly undervalued.

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.

Narrow moat Bio-Techne is a market leader in proteins, immunoassays, clinical diagnostic controls, and other reagents that are crucial for the academic, biopharmaceutical, and diagnostic markets.

We are dropping coverage of Bio-Techne. We provide broad coverage of more than 1,500 companies globally and periodically adjust our coverage according to investor interest and staffing.

Narrow-moat Bio-Techne ended the fiscal year with strong growth across the board paired with margin gains that outpaced our forecasts, and we are increasing our fair value estimate by 6% to $339 per share. Bio-Techne also announced a leadership transition, with CEO Chuck Kummeth stepping down by mid-year 2024 (end of that fiscal year). We do not expect this development to significantly affect the firm's long-term strategy given that Kummeth will remain on the board and help choose his successor. Considering the company has been performing well, there would be little reason to significantly change strategic direction.