Life sciences company Bio-Techne (NASDAQ: TECH) will be reporting results this Wednesday morning. Here’s what to look for.
Bio-Techne beat analysts’ revenue expectations last quarter, reporting revenues of $295.9 million, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and a decent beat of analysts’ revenue estimates.
Is Bio-Techne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bio-Techne’s revenue to be flat year on year, slowing from the 4.2% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bio-Techne has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bio-Techne’s peers in the life sciences tools & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Avantor posted flat year-on-year revenue, beating analysts’ expectations by 2.7%, and Thermo Fisher reported revenues up 6.2%, topping estimates by 1.5%. Avantor traded up 3.1% following the results while Thermo Fisher was down 8.6%.
Read our full analysis of Avantor’s results here and Thermo Fisher’s results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 5.7% on average over the last month. Bio-Techne is up 1.8% during the same time and is heading into earnings with an average analyst price target of $72.27 (compared to the current share price of $54.75).
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