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Bio-Techne Corp TECH Stock Quote

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Morningstar‘s Stock Analysis TECH

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Boosting Bio-Techne's FVE On the Back of A Strong Fiscal Q4; CEO Transition Does Not Affect Value

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

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.

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Company Profile TECH

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 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
Industry Biotechnology
Most Recent Earnings Mar 31, 2022
Fiscal Year End Jun 30, 2021
Stock Type Aggressive Growth
Employees 2,600