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Bio-Techne Corp TECH

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Bio-Techne Reports Strong Growth and Improved Margin for Q3; Maintain $215 FVE

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

Narrow-moat Bio-Techne had a good fiscal third quarter that met our high expectations, reporting revenue growth of 25% and diluted EPS of $1.12, an increase of $0.20 over the previous year. We are maintaining our $215 fair value estimate.

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Company Profile

Business Description

Based in Minnesota, Bio-Techne is a life sciences manufacturer supplying consumables and instruments for the pharma, biotech, academic, and diagnostic markets. The company reports in two segments, protein sciences (75% of revenue), and diagnostics and genomics (25%). The protein-focused segment makes equipment and associated consumables for protein characterization and analysis and sells a variety of antibodies for research and clinical purposes. In diagnostics, Bio-Techne provides controls and calibrators for diagnostic manufacturers, and has a portfolio of diagnostic oncology assays. The United States accounts for about 55% of revenue, and the firm also has operations in EMEA (20% of sales), the U.K. (5%), and APAC (15%), with the rest of the world accounting for the remaining 5%.

614 McKinley Place N.E.
Minneapolis, MN, 55413
T +1 612 379-8854
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Mar 31, 2021
Fiscal Year End Jun 30, 2021
Stock Type Aggressive Growth
Employees 2,300